Israel's cyberattack against the Natanz nuclear facility in Iran, maritime attack against the Saviz vessel in the Red Sea, and airstrikes against Iranian-linked assets in Syria all point to a more intense phase of conflict with Iran that coincides wi...

However, the oil price rally does not herald a new paradigm on which to base an investment strategy over the next one to three years: OPEC+ discipline is fragile (and highly dependent on Saudi), demand recovery post-Covid is likely to be a stuttering...

Covid-19 second waves, the reliance on Saudi unilaterally shouldering the burden of marginal output restraint, and the fragile nature of Saudi-Russia cooperation tempers our optimism on oil relative to other commodities with secular demand drivers (e...

EM hard currency sovereign bond issuance jumped to US$26.2bn in November, more than twice the level in October, and the highest monthly volume since the market reopened in April. That is, the average run rate over the last four months has essentially...

It should be no surprise that Oman is attempting to increase fiscal revenue from tax given persistent low oil prices is pushing its fiscal deficit to 18% and 17% in 2020 and 2021, respectively, according to IMF forecasts. But the pace of introduction...

At least, most in the GCC region are forecast to bring down their fiscal breakevens in 2021, eg Saudi drops from US$78 (with a c11% fiscal deficit) in 2020 to US$68 (6% fiscal deficit) in 2021. Saudi and GCC currencies: Drop the pegs while FX reserve...