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GULF WEEKLY: Bahrain cabinet reshuffle, rates hiked by 25-75bp, Total invests in Qatar LNG, reactions to Biden visit
GULF COUNTRIES · Report · 17 Jun 2022

A skimmable summary overlaid with our analysis and links. Headlines: * The oil market remains tight, including due to an oil port blockade in Libya. * Iran is facing a wave of social unrest, and the US tightened sanctions as nuclear talks remain stalled. * Gulf states mainly followed the Fed...

Webinar Replay: Gulf Countries - Spending the oil windfall
GULF COUNTRIES · Report · 17 Jun 2022

Get insights into how the Gulf is managing this century's third oil boom differently amidst a complex geopolitical landscape. Visit our calendar page to watch the replay of our webinar featuring Justin Alexander discussing issues including the impact of OPEC+, Vision 2030, regional reconciliatio...

Slide Presentation: Gulf Countries - Spending the oil windfall
GULF COUNTRIES · Report · 16 Jun 2022

Access the pdf fil​e of the presentation​ from the GlobalSource Partners' webinar "Gulf Countries - Spending the oil windfall". With the Gulf managing this century's third oil boom differently amidst a complex geopolitical landscape, GlobalSource Partners' Gulf Countries Analyst Justin Alexander ...

Biden to visit Saudi Arabia and meet other Gulf leaders
GULF COUNTRIES · Report · 14 Jun 2022

The US has confirmed that President Biden will visit Saudi Arabia in July, meeting with all the Gulf heads of state and also, significantly, with the Saudi crown prince. We are not expecting any major concessions from Saudi Arabia on human rights or oil supplies, although there may be some gestur...

GULF WEEKLY: Saudi posts strong GDP, Jebel Ali stake sold, Coronavirus cases tick up
GULF COUNTRIES · Report · 10 Jun 2022

A skimmable summary overlaid with our analysis and links. Headlines: * Oil is close to its post-invasion high, and the UAE energy minister says it is nowhere near the peak. * One driver is an IAEA resolution criticizing Iran, which responded by reducing nuclear site monitoring. * Coronavirus...

GULF WEEKLY: Biden confirms talk of Saudi visit, OPEC+ increases taper, Yemen ceasefire extended, S&P positive on RAK
GULF COUNTRIES · Report · 03 Jun 2022

A skimmable summary overlaid with our analysis and links. Headlines: * OPEC+ boosted its taper by 50% for July and August, but in a rather peculiar way, and Brent is touching $120. * Despite the oil windfall, Saudi government and FX reserves both declined in April. * There is talk of buildin...

GULF WEEKLY: Gulf officials swarm Davos, Saudi prioritizes rebuilding reserves, Oman-Iran gasfield discussed
GULF COUNTRIES · Report · 27 May 2022

A skimmable summary overlaid with our analysis and links. Headlines: * Four Saudi ministers, Qatar’s emir and other Gulf officials spoke at Davos. * Saudi Arabia is using the surplus to rebuild reserves, before funding PIF or cutting the VAT rate. * PIF bought a $1.5bn stake in Prince Alwaleed...

Making sense of GCC economic data and navigating the GCC Databank
GULF COUNTRIES · Report · 23 May 2022

This report provides an overview of the economic data that is available for the Gulf states, some technical discussion of the quirks in regional data (with examples) and an introduction to navigating our GCC Databank (follow the sidebar link to download the latest version). Although this is quite...

GULF WEEKLY: Qatar and US delegations visit UAE, Oman considers gas pipeline IPO, Hezbollah loses majority
GULF COUNTRIES · Report · 20 May 2022

​A skimmable summary overlaid with our analysis and links. Headlines: * Brent touched $115 as Russian oil output fell -by 9% in April but is displacing Iranian exports to China. * The EU launched a strategic plan for engaging with the GCC. * Saudi Arabia achieved a 6% of GDP fiscal surplus in ...

SAUDI: Q1 fiscal outturn shows some signs of spending restraint despite the oil surge
GULF COUNTRIES · Report · 16 May 2022

MoF published its Q1 fiscal outturn alongside Aramco’s earnings report. The overall surplus of SR57.5bn ($15.3bn, 6.4% of budgeted GDP) is by far the strongest since the quarterly series began in 2016 and sets the basis for a strong full-year surplus. Although expenditure is generally seasonally ...

GULF WEEKLY: UAE president dies, Dubai tourists exceed 2019 levels, Qatar’s emir visits Iran
GULF COUNTRIES · Report · 13 May 2022 · 1 response

​A skimmable summary overlaid with our analysis and links. Headlines: * The EU and Qatar attempted to restart Iran nuclear negotiations with visits to Tehran. * PMIs fell in April in Saudi, Dubai and UAE but rose to a new record in Qatar. * Aramco surpassed Apple as the world’s most valuable c...

GULF WEEKLY: Oil up as OPEC+ tapers steadily, rate rises mirror Fed, CIA director visits Saudi
GULF COUNTRIES · Report · 06 May 2022

​A skimmable summary overlaid with our analysis and links. Headlines: * Oil rises on Russian oil ban fears, a limited OPEC+ taper and stasis in Iran nuclear talks. * The NOPEC bill to enable antitrust action against OPEC passed a US Senate committee 17-4. * Most Gulf states mirrored the Fed’s ...

GULF WEEKLY: Erdogan visits Saudi, Sharjah on Negative outlook, Oman plans privatizations
GULF COUNTRIES · Report · 29 Apr 2022

​A skimmable summary overlaid with our analysis and links. Headlines: * Moody’s restored stable outlooks to Gulf banking sectors due to improved operating conditions. * Saudi Arabia ordered 50k+ Lucid EVs, and colorful details emerge of its 2018 talks with Tesla. * Erdogan visited Saudi Arabia...

GULF WEEKLY: UAE announces local bond auctions, Moody’s stabilizes Bahrain, Qatar considers upsizing LNG expansion
GULF COUNTRIES · Report · 22 Apr 2022

A skimmable summary overlaid with our analysis and links. Headlines: *A raft of forecasts from multilaterals and rating agencies highlight strong Gulf public finances. *Oil has dipped to $106 amidst China demand concerns, despite a possible EU ban on Russian oil. *Saudi-US relations remain a...

GULF WEEKLY: Fitch positive on Saudi, Dubai posts strong indicators, Abu Dhabi gives mixed signals on Egypt investment
GULF COUNTRIES · Report · 14 Apr 2022

​A skimmable summary overlaid with our analysis and links. Headlines: * Oil is up as a potential EU ban on Russia and further JCPOA delay outweighs cuts in demand forecasts. * The Yemen ceasefire is largely holding and the new presidential council pledged to work towards peace. * Fitch lifted ...

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