Oliver Cornock: ALL BLOG POSTS
On Tuesday's (30/10/18) BBC News Briefing, Oxford Business Group's Editor-In-Chief, Oliver Cornock, shares his thoughts on the latest headlines dominating global news .
As I write, oil prices have exceeded $80 a barrel for the first time in four years, marking a clear statement of intent from the Organisation of the Petroleum Exporting Countries’ decision not to increase output at their recent Algiers meeting, despite US President Donald Trump’s request that they do so.
With the Organisation of the Petroleum Exporting Countries’ recent decision not to increase oil output, and prices exceeding $80 per barrel for the first time in four years, receipts from oil exports are on the rise. This, along with the Kuwait National Development Plan, which is seeking to diversify the economy, may have contributed to the positive or very positive expectations for business conditions over the next 12 months among the majority of CEOs in our latest OBG Business Barometer: Kuwait CEO Survey. Nevertheless, executives remain wary of regional political volatility, with 66% citing this as the top non-commodity external risk to the economy.