$100 Oil Has Been A Blessing For Gulf Economies ...Middle East

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$100 Oil Has Been A Blessing For Gulf Economies
Just two years ago, the Gulf oil economies were issuing record debt to cope with the massive oil market downturn caused by the pandemic lockdowns. Now, the region is thriving with oil above $100 per barrel and is likely to remain there for the observable future. Bloomberg reported this week that initial public offerings in the Middle East had enjoyed their best first-half ever this year, with total proceeds at $11.4 billion over the first five months of 2022. Petrochemical company Borouge, which is listed on the Abu Dhabi exchange, raised $2 billion.…

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