Middle East oil exporters are locked in an increasingly fierce battle for the world's fastest-growing markets in Asia, as producers worldwide ship more crude east to compensate for shrinking demand from the US and Europe.
The GDP growth of regional oil exporters is expected to pick up in 2012 to almost 5 per cent after recording 4 per cent in 2011, an IMF report said.
Continued government spending due to intensified social demands and higher oil prices
The International Monetary Fund is not seeking more funds from Gulf Arab oil exporters to bolster its resources, and the region faces no major danger from the euro zone debt crisis, the IMF's deputy managing director Nemat Shafik said on Satur
Economic growth for most Middle Eastern and North African oil exporters is likely to accelerate this year, although some may see a sharp slowdown due to social unrest, the International Monetary Fund said on Wednesday.
Regional real gross
The impact from the Greek debt crisis will be 'limited' and oil prices are unlikely to fall below $65 a barrel, a senior Opec delegate from the Gulf region said on Sunday.
Oil at below $65 a barrel would be too low to encourage pro
The new 'Green energy' policies under study in the US and China calling for more usage of electric cars and renewable energy is likely to deal a big blow to the UAE and other Gulf exporters, said a new report, citing an US think tank.