The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.

Oil has Oman over a barrel

Low oil prices have put Oman’s government under pressure, while regional political turmoil could make life even more uncomfortable. A new economic model is called for, but can the leaders in Muscat find one quickly enough?

oil canisters-600

Oman is a country that finds itself surrounded by turmoil. To the southwest there is war in Yemen, to the north a fractious Gulf Cooperation Council (GCC) and to the east the question marks that hang over Iran’s relationship with the rest of the world. Domestically, the local economy is also being undermined by low oil prices

There are opportunities as well as threats, however. The Qatar crisis in particular offers an opportunity for Oman to increase trade with Qatar, which is now forced to bypass its old trading partners in Saudi Arabia and the UAE. The nuclear deal with Iran also opens up the potential for more trade across the Gulf of Oman.

Take out a complimentary trial

Take out a 7 day trial to gain unlimited access to Euromoney.com and Asiamoney.com analysis and receive expertly-curated updates direct to your inbox.

 

Already a user?

Login now

 

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree