Jordan News

The expert in oil and energy affairs, Engineer Hashem Akl, said that the global economy is now suffering from 4 weaknesses.

Akl explained in a post on his Facebook page today, Friday, that these points are represented by “oil prices, high inflation, unstable financial markets and the threat to growth.”

And he indicated that the rise in oil prices is due to factors of concern and risks due to the lack of supply caused by the absence of a large producer, describing the current situation as an “emergency and unsustainable situation.”

He pointed out that “when the risks to oil are geopolitical, we remain exposed to all possibilities,” adding that “families that spend a greater part of their income on fuel and heating, spend less money on other goods and services.”

Akl pointed out that “Russian oil is struggling, with huge discounts, 4 million barrels without buyers.”

On the other hand, he confirmed the increase in wheat contract prices by 40%, pointing out that Jordan imports 90% of its wheat needs from Romania.