Middle East Economic Survey

VOL. LIV

No 12

21-Mar-2011

OIL PRICES

Arab Revolutions And Oil Price Scenarios

By Shawkat Hammoudeh

Dr Hammoudeh is Professor of Economics and International Business at Drexel University. He can be reached at hammousm@drexel.edu.

Libya, which is located in North Africa and next door to revolutionary Tunisia, produces 1.6mn b/d of oil. Libyas oil production is about 2% of global oil production. Algeria, which is also located in North Africa and geographically...