Predictions of drop of the Gulf’s energy revenues to 60% in 2009

Gulf Finance House predicted a decrease in the income of oil-producing Gulf States of oil and gas exports by 60% during 2009 to reach two hundred billion dollars due to the collapse of oil prices.

The Gulf Finance House in a research noted that the balance of current transactions for the Gulf States that have large surpluses for several years, will be balanced this year, almost scored in the average oil prices this year, the amount of forty dollars per barrel.

 
Oil prices fell more than110 $ a barrel in the price of a barrel since the registration of a record high of 147.27 dollars in July last year.

 
Economist of Finance House predicted in the Gulf region to be able to meet the challenges of the decline in oil prices “but would not be able to avoid the repercussions of the financial crisis,” the World.

 
Alaa Youssef said that likely enable the wealth of the Gulf region, both public and private, to address the worst way better than many major economies.