Summary: Crude oil prices have hit a twelve-year low owing to a combination of resurgent Iraqi exports, the United States' shale revolution, and Saudi Arabia's refusal to cut production in an effort to protect its market share. Additionally, post-sanctions Iran's re-entrance into the global marketplace has contributed to this global glut, which will only pose further challenges to the region's energy producers. Dr. Salam Fayyad, Former Prime Minister of the Palestinian Authority; The Hon. Sherri Goodman, Board Director at the Atlantic Council; Karen Elliott House, Former Publisher at the Wall Street Journal; and Raad Alkadiri, Managing Director for Petroleum Sector Risk at IHS Energy discuss the security and economic implications of falling oil prices on the Middle East.
