Kuwait is set to benefit from a windfall of between US$10-18 billion on the back of a weak dollar, despite the Gulf states large spending spree, according to the latest economic brief by the National Bank of Kuwait.
As global benchmark prices hit a six-month high, worldwide oil demand has been more robust than expected this year, the report finds.
OPEC’s crude supplies in September saw a sharp fall in September and prices are expected to be stable over the near-term although there could be a further price rise later, the report warns adding that the price rise could be due to disappointing non-OPEC supplies.
Weakening of Chinese oil demand could also knock down prices over the forecast period 2010-2011 which would in turn present a downside risk.
