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 factors could contribute to volatility in oil prices as mentioned in the text?

What does the PMI data indicate about the economic activity in Saudi Arabia and the UAE?