12/01/2015
In the latest issue for the month of January
Economy magazine .. prices fall Burgles at spring Oil
"The economy,"Journalof theEastChamberin the new issuefor the month ofJanuarydealt withthe effects ofthe deterioration ofoil prices in theinternational markets,the most prominentcross-sectionalimplications of thisdeclineonmore than one level, andseveral aspects.
Under the headline"AutumnPriceburglesthespring ofoil,"discussedthe magazine, "Saudi Arabia'seconomic landscapeandthe surroundingrealitythisfallcircumstances, on the basisofthat oilis stillthe main source ofincomein Saudi Arabia.And remember thatoil pricesbegan to declinein October2013, whereprices fellto less than$ 110 a barrel,anda stronglinebeganto decline inthe monthofJune 2014, which saw theslidingoil pricesuntil it reached$ 50 a barrelcurrently.
In this regard,the magazinequotedtheMinister of Petroleumand MineralResources AliAl-Naimiconfirm that the kingdomwants tostabilizeoil pricesand totalk about theprice wara sign ofmisunderstandingdeliberatelyorinadvertentlynotunfounded,stressing that thekingdom's oilpolicystablefor decadesandchangetoday, thoughthe Kingdomis doing what itcan withother producersto ensureprice stability.
On the other hand,dealt with"the economy,"the impact oflower pricesonoil shaleinvestorsandsaid that,bynearly 30 yearsof exporting countrieshave passedthe Petroleumsimilarcrisisandmanaged toget outbetter than it was, noting that theOrganization of Petroleum Exportingbenefited from thelessons of the pastwhich isfacing thecurrent crisisoflikelycontinuinguntil the end of2015,as a result ofincreased investments inthe field ofoil shale, sothe majority ofOPECbelieves that anyreduction inproductionwill,unwittingly,toincrease productionbycountries outsideOPEC,especiallyshaleoil producers,and thusthe loss ofOPECtopartofmarket share.Economistsemphasize thatOPEC's decision not tocut productionrepresentsa decisive blowto investors ofoil shale.
Under the title "Gulf women, remained defiantin the oil sector"monitor"the economy"on a womanleading positions in theoil companies andthe major challengesfacedespeciallyin Saudi Arabiaand the Gulf CooperationCouncil,says thewomanmanaged toprove themselvesinall the differentareas of workduring the pastthe latter,making itoccupyleadership positionsinmajoreconomicenterprises, as well asprestigiousuniversitiesand various governmentbodiescenters, but theoil and gas sectoris one of thethorniestareas, althoughitmanaged tofemale figuresfrom enteringthe field andprovethemselves to be effective, however,thiswas not helpedin increasingnumbersoil companiesworking in theGulf regionin general and inparticular.
On the other hand, "the economy,"addressed the issue of thehonorof His Highnessthe Emir ofthe Easttothe members of theformermanagement ofthe CHamberas well asthe winners ofthe award for BestGosaibipromisingfacilityandalsosponsorsthe award duringthe annual ceremonyof the room."The economy"also addressed theSMEforumorganized by the Chamberand generositywhichGovernor of the EasternentrepreneurswinnersForbesMiddle East.
"The economy"also addressed thetour, Minister of Tradeand IndustryDr.TawfiqAl-Rabiahin the second industrialcityof Dammamandopeneda number of newfactorieswith investmentsexceeding700million riyals.
"The economy,"dealt withthe march ofSaudi diplomacyRaedSheikh MohammedPraiseShubailysince itwas orderedby His MajestyKing AbdulazizGod bless himappointedfunctionwritteninthe Royal Court, throughhis appointmentas ambassadorin a number ofArab and Islamic countriesandmost recentlyambassador toMalaysia,whereitbegan to multiplydiseasetohe passed awayin 1988.
