MENA countries are expected to loose $100bn in oil revenues this year ©123RF
MENA countries are expected to loose $100bn in oil revenues this year ©123RF

MENA adapting to lower oil prices, says World Bank

2 August 2016

Lower oil prices are the “new normal” according to a new World Bank report but have also had positive effects by stimulating MENA (Middle East and North Africa) economies to take much-needed structural action.

According to the bank’s forecasts the price per barrel is projected to settle in the range of $53 to $60 by 2020.

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