My two-cents on this:
(1)
«In parallel to the upward curve of infections, we should pay attention to the downward curve in oil prices. They have slid to unprecedented levels—in real terms close to before the pre-1973 oil shock. The regional effects of this could be devastating.»
(2)
« Under such conditions, #SaudiArabia’s Vision 2030, a plan to end the kingdom’s dependency on oil, is most probably going to be shelved, if not terminated. Saudi Arabia will see a huge budget deficit in six months and CP #MohammedbinSalman’s dreams will be shattered. »
(3)
« The prince ( #MbS) will have to resort to more authoritarian practices to maintain his control. However, his inability to distribute revenues from the kingdom’s oil rents to absorb discontent means the risks of upheaval will increase. »

#CoronavirusPandemic & #MiddleEast
(4)
« The slump in the oil market will also have a major impact on the political economy of the #MiddleEast. With labor markets in the #Gulf closed off, the expulsion of millions of workers from the #Levant could trigger social problems in places already crippled. »
(5)
« Authoritarian systems will also tend to grow closer to each other and narrow their differences. The most recent example of this is the #UnitedArabEmirates’ rapprochement with President #BasharAssad’s #Syria. »

#CoronavirusPandemic & #MiddleEast
(6)
« As the #US faces recession, #Russia impoverished by its oil dependency, & #China likely buying more cheap oil frm #Iran, global powers will b less able to arbitrate or impose dynamics in the #MiddleEast, giving mid-size regional powers more leeway to act as they please. »
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