Analysts at Standard Chartered Bank revise GCC macroeconomic forecasts following collapse of the OPEC+ agreement. Brent Oil is trading at $31.17/bbl. Key quotes “We recently lowered our Brent oil price forecasts for 2020 by USD 29/bbl to USD 35/bbl.” “We have significantly raised our headline GDP growth forecasts for Saudi Arabia, and to a lesser extent the UAE, as these countries scale up crude production sharply. This should support oil-sector growth, near-term.” “Sustained oil price weakness (our base case) may worsen GCC twin balances significantly, raising sovereign financing requirements.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Cryptocurrency Market Update: Bitcoin bulls remain relentless, Ethereum and Ripple in green FX Street 2 years Analysts at Standard Chartered Bank revise GCC macroeconomic forecasts following collapse of the OPEC+ agreement. Brent Oil is trading at $31.17/bbl. Key quotes “We recently lowered our Brent oil price forecasts for 2020 by USD 29/bbl to USD 35/bbl.” “We have significantly raised our headline GDP growth forecasts for Saudi Arabia, and to a lesser extent the UAE, as these countries scale up crude production sharply. This should support oil-sector growth, near-term.” “Sustained oil price weakness (our base case) may worsen GCC twin balances significantly, raising sovereign financing requirements.” Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
