The collapse of oil price puts pressure on many of the OPEC countries, who depend on oil exports for revenue. Saudi Arabia, for instance, noted that $75 a barrel oil will insure continued investments in petroleum infrastructure projects. At the present level, investments have frozen and will likely threaten future supplies.

Venezuela and Iran, on the other hand, would like to see oil in the $90 range as they depend on oil revenue to prop-up domestically unpopular regimes.

In the upcoming meeting, OPEC will likely face one of the toughest challenges in the cartel’s history. On one hand, all countries could benefit from higher prices, but that necessarily means cutting production, which some countries may not be willing to do. In addition, current oil prices may help economic giants such as the US avoid a deep recession and in turn stimulate future demand. Should the cartel focus on short-term price goals or long-term demand?

Given the conflicting nature of the issue, the meeting in Algeria probably won’t be pretty. Who will Hugo Chavez call “facista” next? And how do you say “¿Porque no te callas?” in Arabic?

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In Algeria, the King met with President Abdelaziz Bouteflika. In this meeting, he reinforced his support to the country for fighting all kinds of terrorism and extremism. The two leaders also spoke about political development of the Arab countries and efforts for achieving peace.

In the United States, King Abdullah was part of the High Level Meeting of the United Nations General Assembly. In a speech, he emphasized the importance of a dialogue regarding faiths, cultures, and civilizations in order to end conflicts around the world. He noted the importance of Saudi Arabia in leading this discussion.

In the United Kingdom, the monarch spoke at the Royal College of Defense Studies. Here he reiterated that the only solution for the conflict between Israel and Palestine is a two-state solution.

Mayra Munguia

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Holly MacGillivray

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