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Oil Prices to average $60 in 2009 - Markaz Study

Posted on 29 January 2009

Kuwait Financial Centre “Markaz” in its recently released research note has analyzed the role of oil for GCC economies, estimated oil price scenarios for 2009, and explored the relationship between oil and GCC stock markets.

M.R.Raghu, Rajiv Bishnoi and Layla Al-Ammar, the authors of the report, note that every successive oil price spike actually goes to negate the feeble attempts by oil producing and exporting countries, especially the GCC, to diversify their economies and reduce the dependence and inherent volatility. …. Full Press Release: Source


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