Gulf economy planners face 2019 challenges
Uncertainty over oil prices is creating problems for GCC states as they prepare budgets for the year ahead
Not so long ago, Gulf state economists were making projections for 2019 on the basis of oil remaining in the region of $80-90 a barrel. But developments over the past weeks have forced them to get their calculators out again, as prices slipped to less than $70 a barrel. Fears about global oil shortages eased, as the US granted waivers to eight states to allow them to continue buying oil from sanctioned Iran, and President Trump urged Opec states to produce more. Another factor is the rise of US oil production to 11.6m barrels a day. The expected global tight supply has not materialised. The dilemma that economic planners in the Gulf states face is that the market looks like remaining uncerta
Also in this section
18 February 2026
With Texas LNG approaching financial close, Alaska LNG advancing towards a phased buildout and Magnolia LNG positioned for future optionality, Glenfarne CEO Brendan Duval says the coming year will demonstrate how the company’s more focused, owner-operator approach is reshaping LNG infrastructure development in the North America
18 February 2026
The global gas industry is no longer on the backfoot, hesitantly justifying the value of its product, but has greater confidence in gas remaining a core part of the global energy mix for decades
18 February 2026
With marketable supply unlikely to grow significantly and limited scope for pipeline imports, Brazil is expected to continue relying on LNG to cover supply shortfalls, Ieda Gomes, senior adviser of Brazilian thinktank FGV Energia,
tells Petroleum Economist
17 February 2026
The 25th WPC Energy Congress, taking place in Riyadh, Saudi Arabia from 26–30 April 2026, will bring together leaders from the political, industrial, financial and technology sectors under the unifying theme “Pathways to an Energy Future for All”
