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Impact of Oil Price Movements and COVID-19 on Middle East and North Africa (MENA) Markets

Recorded on Tuesday, April 7, 2020

A sudden drop in oil prices in March 2020, further spooked financial markets already unsettled by the accelerating spread of the coronavirus (COVID-19). Oil prices have been hit by both weakened demand due to the COVID-19-related economic slowdown, and excess supply. OPEC+ supply discussions broke down after the failure of negotiations between two of the largest oil producers, Russia and Saudi Arabia. On 17 March 2020, the Brent Crude futures price dropped to below USD 30, for the first time since 2016.

This AM Best webinar considers the potential impact of the oil price drop on the insurance markets in the Middle East and North Africa.

Panelists include:

• Vasilis Katsipis (host), General Manager, Market Development
• Salman Siddiqui, Director, Analytics
• Valeria Ermakova, Associate Director, Analytics
• Jessica Botelho-Young, CA. Senior Financial Analyst – Analytics

 

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