Great Gulf

Pendleton, Devon
July 2008
Forbes Asia;7/21/2008, Vol. 4 Issue 13, p114
The article focuses on the oil market in the Middle East. It is stated that the economy of oil producing Gulf countries like Saudi Arabia, United Arab Emirates, and Kuwait has grown at an annual 6% since 2004. The International Monetary Fund expects oil and gas exports to bring in $940 billion to the region in 2008. Ziad Makkawi, chairman of investment bank Algebra Capital said that even if oil prices drop below $70 a barrel for the next ten years, the region would still have economic growth.


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