Fresh opportunities as oil windfall to generate cash – ARAB TIMES – KUWAIT NEWS – Arab Times Kuwait News

Fresh opportunities as oil windfall to generate cash – ARAB TIMES – KUWAIT NEWS – Arab Times Kuwait News

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IN the coming four years until 2026, additional revenues can be expected, in accordance with the forecast of the International Monetary Fund (IMF) and in anticipation of higher oil prices, which will generate additional monies. This means the Gulf oil producing countries’ sovereign wealth fund must be prepared for global investments. Its appetite must be enhanced for more diversifications and acquisitions at various levels, at a time when other non-oil companies are facing cost increases due to higher energy prices and inflation.

With the ongoing Russian invasion and the pause in the threat on energy supply to Europe, Gulf oil remains a vital source of oil and gas. Europe is trying to sort out its difficulties by diversifying and knocking on the door of Iran with USA’s approval. This is a long shot but will not ease energy supply. However, it means that the four Gulf states – Saudi Arabia, the Emirates, Qatar, and Kuwait – will be generating more energy incomes, provided of course there is some sort of discipline and control on the annual budget and expenses.