Assignment on Impact of Saudi-Russian oil war on Saudi Economy

This is the time when the world is having a fight with coronavirus but still at this crucial time, Russia and Iran are fighting on Oil prices concerns. Saudi Arabia including panic buying and grounding flights has decimating supply chains of Oils with Russia. For the past 3 years Saudi Arab and Russia are working together to pop up oil prices but they also have some issues in between them as after Riyadh’s insistence in a day they agreed to cut down oil prices up to 1.5 million barrels a day. As the coronavirus breaks the economy so the reason behind this fight is that China returned the oil tankers due to economy standstill in this pandemic. Since the 1991 Gulf war, the oil prices had faced the biggest one-day crash and this makes the oil market more disturbed (Aljazeera.com, 2020).

There is a prediction that oil prices could hit $20 a barrel if such issues continue to happen. Many different things are considered as an issue among the oil fight between Russia and Iraq is that they are going to make the things more demanding and allowing the markets to Rush more efficiently and more appropriately for sure. Saudi Economy no doubt is self-sufficient in oil reserves but still, they want the support of other in making the oil reserves smooth and continue to have it so that they can get more oil efficiency to the patients and this makes them more predictive and more appropriate to manage all the tasks concerned with oil reserves to be completed effectively and efficiently.
Assignment #2: Impact of COVID-19 PANDEMIC, on Middle Eastern economies.

                  Middle eastern countries like all other countries in the world are suffering heavy loss due to this pandemic and this is impacting badly on the economies of middle eastern countries. There is no proper working is going on in the country that supports the economy so that this is having a bad impact on the economy making it weaken and it’s losing its strength as it was before in that middle eastern countries. The overall impact is adverse and the situations are getting worse as if these conditions continue to happen then whole the world will become diminished in such a way that it became very difficult to control all these otherwise it becomes too much disturbing remain in the workings and economies will die their death (reliefweb.int, 2019).

On one side people are stressed for being all day at home but they are also having fun and doing different productive activities like cooking baking and various artistic tasks which have increased by the purchase of customers. There are ups and downs in the purchase of customers. Nothing is certain. Customer experience has been impacted a lot due to the problem of COVID-19. Organizations are supposed to identify and analyze the needs of their customers so that they can understand the change in their habits and make better relation with them.

References of Saudi Economy

Aljazeera.com. (2020, March 15). What's behind Saudi Arabia's oil price war with Russia? Retrieved from https://www.aljazeera.com/programmes/countingthecost/2020/03/saudi-arabia-oil-price-war-russia-200315114308947.html

reliefweb.int. (2019). The Impact of Covid-19 on the Middle East and North Africa. Retrieved from https://reliefweb.int/report/world/impact-covid-19-middle-east-and-north-africa