Higher oil price needed

Middle East Investment Summit, Bahrain, November 2009


The financial crisis and economic turmoil has had a profound impact on the price of oil, according to Wichai Turongpun, head of economics and research at Arab Petroleum Investments Corporation (Apicorp). Turongpun is responsible for a wide range of economic and business research spanning macroeconomics, energy investment and risk assessment in the Middle East/North Africa (MENA) region.

He believes the greater risk attached to investment decisions in the region will continue to impact oil prices