UAE: Low oil prices prompt talk of cutbacks

There’s no sense of panic in the UAE about the current oil price, but there is a growing feeling that the emirates need to prepare for a future in which the oil price remains low for a long time. The UAE is thought to need a price of between $73/bbl and $78/bbl to balance its budget this year, but those prices have not been seen since November. In recent weeks, Brent crude has been selling for close to $60/bbl, and few market-watchers expect a sharp rise anytime soon.
Issue 995, 18 June2015. Read more

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Dubai: More mega-projects
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