MUFG's Khoman on BRICS Expansion, Egypt & Oil Market

The video discusses trade flows in Saudi Arabia and UAE, highlighting China and India as key partners. It explores the impact of BRICS expansion on Middle East economics, focusing on energy dominance and financial institutions. The discussion includes currency dynamics, de-dollarization, and the role of BRICS+. Egypt's economic challenges, including foreign exchange issues and IMF policies, are examined. Finally, the video analyzes OPEC's stance and oil market fundamentals, predicting a supply deficit until 2024.

Which two countries are among the top trade partners of the UAE?

• India and Brazil

• China and India

• Russia and China

• United States and China

What is one of the core goals of the New Development Bank?

• To expand projects financed in local currency

• To establish a new global currency

• To reduce global trade

• To increase oil production

What is a significant barrier to the shift away from the dollar?

• The instability of the euro

• The dominance of the dollar in commodity transactions

• Lack of interest from BRICS countries

• The rise of digital currencies

What is Egypt currently struggling with in terms of its economy?

• A surplus in trade balance

• Excessive oil production

• A frozen foreign exchange market

• High inflation rates

What is the expected market condition for oil towards the end of the year?

• A complete market collapse

• A balanced supply and demand

• A significant oversupply

• A supply deficit

What is the role of the IMF in Egypt's economic strategy?

• To reduce trade with GCC neighbors

• To establish a new currency

• To support privatization and FX regime liberalization

• To increase oil production

What might OPEC do if oil prices drop to the high 70s?

• Increase production

• Cut production

• Stop production entirely

• Maintain current production levels