The Institute of International Finance (IIF) lowered Sunday its assumed averaged Brent oil price by $10/bbl, to $54/bbl for 2020.

The IIF attributed its adjustment to global lower demand for oil.

It added that the decline exposes significant vulnerabilities among oil-exporting countries in the Middle East region, especially Oman and Bahrain.

It also said that external and fiscal positions are expected to weaken.