Do the Gulf countries need ((political observer)) Before the outbreak of the oil price crisis in the Gulf

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Professor Dr. Jassim Younis Al-Hariri                                   

Professor of political science and international relations

Oil prices lost about 50% of their value during March 2020, in the wake of the failure of the ((OPEC)), and its oil producing allies outside the organization, led by Russia, or (OPEC Plus), in reaching a settlement on reducing global production rates For oil, in which production was reduced by 1.7 million barrels until the end of March 2020, and US crude fell during one day of the month to the level of $ 20.48 from the opening level at $ 23.40, and Brent crude fell to the level of $ 24.68 a barrel from the level of Output has $ 26.7, the highest level was $ 26.75, and when comparing these prices another day, we find that US crude lost 15% of its value, thereby resuming its sharp losses, which were temporarily halted the previous day as part of the rebounds from its lowest level in 18 years at 20.08 dollars a barrel, as Brent crude futures decreased by 9%, to resume the losses that stopped temporarily on March 19, 2020 and contracts were recorded on Wednesday, March 18, 2020, the level of $ 24.54 a barrel, which is the lowest since May 2003. I think that there is a real test for the countries of the region for the purpose of balancing the possibility of continuing to increase production rates in light of the decline in demand, and it will push them to inevitably reduce production to save markets, which will be driven by the rebellion in the directions of (OPEC) )) How much is the decline in oil production, but OPEC wants the countries of the region to get rid of the idea that all the oil producing countries tend to compensate for the price drop by increasing production, I see that the countries of the region must put a ((political observer)) in the face of political and economic changes, And health, to address oil prices in the event of induction of any developments reported to the countries of the region to take precautions in order to avoid any crisis in prices in light of internal challenges experienced by the countries of the Gulf Cooperation Council, including an increase in the proportion of foreign employment over domestic workers that were deprived of employment opportunities, and in my opinion ((Political Observer)) Why It has been happening in the Gulf countries for more than 20 years, as I am ready to embark on this project in the event that any entity desires it financially and morally.

 

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