Oil prices have risen since Russia - the world's second-largest crude exporter - began its war in Ukraine, and Brent crude recorded $ 139 a barrel on Monday before retreating, but it remains very high.

Who are the winners and losers from the Crude Oil Inflammation?

A report published by the British "Middle East Eye" website examined the repercussions of high oil prices on the countries of the Middle East and North Africa in light of Russia's war on Ukraine.

The report expected that the major oil-producing countries will enjoy some money that will enter their coffers, while other countries will suffer from a sharp rise in inflation rates and a sharp increase in commodity prices.

The website quoted experts in the field of oil and energy that high oil prices are a favorable opportunity for some countries, but they may mean a significant rise in the prices of basic commodities and severe inflation for other countries, which may provoke the discontent of some of them.

Winners

The report confirms - quoting oil experts - that the rise in oil prices will support development projects in the "OPEC Plus" countries and will inject money into their coffers.

He points out that the Gulf countries, in addition to Algeria, Libya and Sudan, "will be able to reap profits from those prices" in the midst of the Russian-Ukrainian war, and oil revenues will help some of these countries continue their efforts to diversify the sources of the economy in order to reach a level where they can reduce their dependence on crude oil and support its citizens.


losers

According to the report, there are countries - such as Jordan, Tunisia and Lebanon - that will feel the suffering from high oil prices in the form of high cost of living and inflation rates.

The report quotes specialized researchers from the region that many countries of the world are threatened by social unrest due to the rise in oil prices, "which will lead to an increase in the prices of wheat and vegetables."

He added that although the Gulf states will enjoy significant revenues from oil exports in 2022, their citizens will nonetheless be affected by the rise in commodity and oil prices.

According to these researchers, fixing the price of gasoline and diesel at a certain limit or reducing taxes on these products may be a temporary solution for countries such as Jordan, Tunisia and Lebanon.

Negative effects on ordinary people

Researchers believe that any increase in the prices of bread and wheat - products that many countries import from Russia and Ukraine - would be very bad for ordinary people in the Arab world.

They say that oil prices will affect the price of bread, because it will increase the cost of transporting wheat, which in turn will lead to the outbreak of unrest.

The report touched on the impact of high oil prices on countries such as Tunisia, noting that half of that country's grain imports come from Russia and Ukraine.

As for Egypt and Israel, they import about 80% of their wheat needs from Russia and Ukraine.

However, Jordan stopped importing wheat, corn and barley from Russia due to the increase in duties in the past two years, and relied mainly on Romania for its imports of wheat, according to the report.