CPI Financial

At the OPEC targeted floor price of $50 per barrel, the Gulf Cooperation Council (GCC) countries will cumulatively earn $4.7 trillion by 2020. This will be 2.5 times their oil earnings over the last 14 years, according to ‘Global Megatrends 2009’, a report by Ernst & Young. Middle East economies are predicted to be a real growth story for the next few years, even as the region has not been immune to the effects of the global downturn.