A skimmable summary overlaid with our analysis and links. Headlines:
* Covid cases rose by two-thirds to new records, although deaths remain low.
* Oil rose to $85, close to its highest since 2014, despite a resolution to Libya’s production outage and hints of progress in Iran nuclear talks (potentially with Gulf mediation).
* The Saudi mining sector was showcased at a forum, with plans to auction the first concession soon.
* Aramco is investing in a refinery in Poland and could supply half the country’s crude.
* The consortium that invested in Aramco’s oil pipelines sold $2.5bn in bonds, considerably less than planned, and a green bond for a UAE solar plant also raised less than intended.
* Saudi National Bank issued a green sukuk.
* Foreign ministers from Saudi, Oman, Kuwait and Bahrain visited China.
* Consolidated UAE fiscal data (likely to be revised) shows a 6%-of-GDP surplus in Q1-Q3.
* Dubai’s PMI hit a two-year high in December but Expo visits have slowed in January.
* Qatar’s non-oil GDP grew at a strong rate of 4.7% y/y in Q3, and most sectors have recovered to pre-Covid levels.
* Iraq re-elected Halbousi as parliamentary speaker, and Fitch affirmed its B- rating.
* Saudi Arabia provided Tunisia with $200m in export financing for oil products.
* The new Qatar GDP and UAE fiscal data is included in a partial release of our GCC Databank, which is under construction and will be released in full soon.
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