Council (GCC) countries today have some of the strongest economies in the world. The combined real GDP growth of Saudi Arabia, Oman, Kuwait, Bahrain, the UAE and Qatar last year averaged 6.2%. Together, they hold 22% of the world’s oil reserves while Qatar alone possesses 14% of the world’s proven natural gas deposits. In a…
MIDDLE EAST: Economies humming from high oil prices
Posted on October 31, 2007 by EnergyAsia