Majed Almozaini is a Senior Associate in the Energy Macro & Microeconomics program. He is a Co-Chair of Think20 (T20) India 2023 Task Force 3 on “LiFE, Resilience, and Values for Wellbeing”.
Before joining KAPSARC, Majed worked as an Assistant Professor of Economics with a demonstrated history of working in professional training and team building. Majed has served as an Editorial Board Member and a supervising team leader for a study at the Riyadh Economic Forum. In addition, he had an excellent training period at the World Bank during the summer of 2018 and worked on project-event analysis (EA) in the International Monetary Fund (IMF).
Majed earned his M.A. in Economics from Middle Tennessee State University (MTSU) and a Ph.D. in Economics from Howard University, Washington DC.
Oil is an essential commodity with an almost perfectly inelastic demand, despite its volatile price. In recent months, fuel prices have declined significantly from approximately $120 per barrel (b) at the beginning of June to less than $85/b at the end of September. Experts and market commentators suggest that this steady decline is symptomatic of the onset of a global economic recession. But what are these recessionary concerns?