Middle East Economic Survey


No 1


Kuwait And Oman Hike Oil Price Assumptions For 2005 Budget

Both Kuwait and Oman have increased oil price assumptions for their 2005 budgets, with Kuwait adopting $21/B in its draft budget, compared to $15/B in 2004, and Oman $23/B versus $21/B. The relatively moderate increases show the two countries are continuing to adopt a conservative approach, given that oil prices currently remain around the $40/B level and are forecast by many...