TITLE

Managing the oil windfalls

AUTHOR(S)
Siddiqi, Moin
PUB. DATE
January 2005
SOURCE
Middle East;Jan2005, Issue 352, p34
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
This article reports that as 2005 dawned, pressure for a cut in oil output was mounting among OPEC states concerned about falling prices and a weakened dollar. The external payments position of the Gulf Co-operation Council (GCC) region is the healthiest for more than two decades. Businesses are reaping the benefits of robust oil-export receipts, as evidenced by increased public-private investments, rising imports and active participation in global financial markets. The GCC bloc, comprising Saudi Arabia, Kuwait the UAE, Qatar, Oman and Bahrain, produces one-fifth of world crude supply and controls 40% of total proven oil reserves.
ACCESSION #
15629767

 

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