Oil recovers but EM petro states warned to diversify funding as revenues plunge

AdobeStock_oil_money_575x375_17Feb2021
By Mariam Meskin
17 Feb 2021

Despite a modest recovery in oil markets after an unprecedentedly volatile period last year, hydrocarbon-dependent emerging market governments are being warned to diversify urgently, amid estimations that a multi-trillion dollar revenue gap looms over some of the most vulnerable oil exporters. Capital markets must play a critical role in that transformation, say industry experts.

Brent Crude oil was trading at $64.38 a barrel on Thursday morning, a level it last touched in January 2020, after which it endured a volatile year, diving to lows of around $23 a barrel, as demand collapsed during the first phase of the coronavirus pandemic, before climbing ...

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