A Reuters poll showed that economic growth in Saudi Arabia will accelerate next year, supported by a rise in oil production, after two years of cuts, and experts also expected a strong performance for the economies of other countries in the Gulf Cooperation Council.
The OPEC+ alliance, which includes the Organization of the Petroleum Exporting Countries and allies led by Russia, has been cutting oil output since late 2022, but is expected to raise output in December, potentially boosting revenues for the six Gulf Cooperation Council (GCC) members.
Crude oil prices are expected to remain broadly low to average $76.75 per barrel next year, up from around $74.8 currently.
