The Middle East Oil Bonanza Will Slow In 2023
Slows the growth of global oil demand next year, soaring food prices, and concerns of recession in large oil importing countries are determined to slow down economic growth in the Middle East, whose main oil producers enjoy the fortune of oil revenue and the highest growth for years. Economies in the Arabic Gulf States that are part of the Gulf Cooperation Council (GCC) —Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates (UAE) —Eare on track for the Fastest Economic Growth in years and for for Budget surplus, for some of them the first surplus in a decade.
GCC growth is estimated to be 6.2% this year, according to the Reuters of Economist's opinion that revised the estimated economic growth of 5.9% from a similar poll in April.
However, growth will slow down next year...