| Falling oil prices may prove the best medicine for economies in the Arab world, rebalancing growth toward countries struggling to recover from the Arab Spring uprisings without doing major damage to the oil exporters of the Gulf.
The price of Brent crude has sunk by nearly $20 from its June peak to as low as $96 a barrel in recent weeks, its lowest level since mid-2012. Behind the drop is soft economic data from top consumers such as China; a plentiful supply outlook points to further price declines in the next two years. It is potentially the biggest shift for the Gulf Arab economies since the global financial crisis five years ago. But the huge financial reserves that they have built since then mean they are likely to cope fairly comfortably with cheaper oil............................................Full Article: Source
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