Pulse: Middle East


The Oil Market Rout

The rout in oil markets continued in November, the markets worst month in 10 years. Oil prices West Texas Intermediate (WTI) down by 22%, to their lowest level in 13 months. In the past few months, oil markets have moved from balanced to oversupply, which sent oil prices (Brent) crashing by one-third from a high of $86/bbl at the beginning of October to under $60/bbl at the end of November. 

The Unsustainable Economics of ISIL

ISIL is not a juggernaut, according to a recent article in Politico by UC San Diego economics professor Eli Berman and associate professor Jacob Shapiro at Princeton, "Why ISIL Will Fail on Its Own".  Oil revenues in particular are not sustainable: