The financial crisis had a varied effect on Middle Eastern countries. During 2007 and the early part of 2008, rising oil prices lined the coffers of major exporters like Saudi Arabia, the United Arab Emirates, Iran, Kuwait, and Iraq. This buffered them from financial problems suffered by industrialized economies, and in some cases allowed them to make investments in multinational financial firms and other corporations as their stock prices fell. The fall of oil prices in late 2008 reversed this trend, leaving many oil exporters struggling under the weight of debt they had assumed during oil's run-up. In Middle Eastern countries without major crude supplies, the crisis posed a threat more humanitarian in nature: It challenged their abilities to pay off international debts and strained international aid institutions.
The following is a list of resources providing background and analysis on Middle Eastern economies.
- Brookings: Global Economic Crisis: Mixed Forecast for Jordan and Syria
- Brookings: Global Economic Crisis: Can Egypt Emerge as a Winner?
- Brookings: West Bank and Gaza Economy: Before and After the Crisis
- CGS Working Paper: GCC Sovereign Funds: Reversal of Fortune
- BBC: Lebanon 'Immune' to Financial Crisis
- NYT: Slowdown in Persian Gulf Reverberates in Middle East
- Al-Jazeera: The Global Financial Crisis and the Middle East
Organization of the Petroleum Exporting Countries (OPEC)
- Brookings: Slipping Oil Prices: Is the Oil-Rich Middle East Prepared?
- Backgrounder: Oil Market Volatility
- CSIS: OPEC Production and the Falling Price of Oil
- Expert Brief: Gulf States Find Oil Wealth a Thin Buffer
- Op-Ed: OPEC Is Irrelevant
- Brookings: $25/Barrel Oil? Coming Up!