The global economy could be severely affected if the current wave of political uprisings spread to Saudi Arabia, the world's biggest oil producer, ratings agency Standard's & Poor's said in its GCC Q1 Outlook report.
While S&P analysts said they saw upheaval in the kingdom as "unlikely", they added that the impact would have a "tangible adverse economic impact" on oil importers and the global economy.
Kai Stukenbrock, a credit analyst, said in the report that the oil price "could rise beyond historical peak level" should serious uprisings take hold in Saudi Arabia.
No comments:
Post a Comment