Top GCC Risks for 2016 & Beyond

The year 2015 marked one of the worst years for oil prices and resulting government revenues; the backbone on which most of the GCC economies ride. Oil: When will this slide end? With the oil price hovering around $35 per barrel the question remains as to how much longer can OPEC continue with its current policy of pumping as much oil as it can in a quest to win more market share and drive out high cost producers. OPEC member countries produce around 37% of the global crude oil, and disagreements over production ceilings have already affected some of the members. Some of the big producers, such as Venezuela, Nigeria and Algeria that rely on oil exports for their revenue, do not have the luxu

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