Emirates NBD's Fox: See Gradual Improvement for Oil

The transcript discusses the anticipated rebalancing of the oil market, with a focus on the potential for oil prices to reach $60 per barrel. It highlights the volatility in oil prices and the impact of increased supply from the US and Canada. Additionally, it examines the economic indicators in the GCC region, particularly the UAE and Saudi Arabia, noting strong domestic-driven growth as reflected in PMI data.

What is the expected trend for oil prices according to the discussion?

• A rapid increase to $60 and stabilization

• A gradual improvement with potential volatility

• A decline back to $30 levels

• Immediate stabilization at $50

What factor is likely to influence the oil market as prices rise above $50?

• New environmental regulations

• Decreased demand from Europe

• Increased supply from the United States

• Technological advancements in oil extraction

What recent change in the Saudi Arabian economy is highlighted?

• A decline in domestic orders

• A six-month high in the PMI

• A decrease in oil production

• An increase in foreign investments

What is the primary driver of the strong economic activity in the UAE and Saudi Arabia?

• Increased oil exports

• Foreign investments

• Domestic-driven orders

• External demand

How does the PMI reflect the economic condition in the GCC?

• It shows a decline in economic activity

• It indicates strong domestic-driven growth

• It suggests a reliance on external factors

• It highlights a decrease in output