The OPEC+ meeting could see the group opt to roll over its production cuts into April (rather than easing quotas) which would push back the recovery in GDP growth in the Gulf. Even so, the drag from the fall in oil output should still ease dramatically in the coming months. Elsewhere, while the loan secured by Oman’s government will help to meet the large public sector financing needs, the authorities are still likely to rely on financial assistance from the Gulf. Finally, vaccination programmes in the UAE, Bahrain and Morocco have pulled ahead, but roll-out has been worrying slow elsewhere.
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