Rumours that OPEC+ oil producers are contemplating deeper output cuts underlines the desire of policymakers in Saudi Arabia to push up oil prices. But this would come at the expense of weaker GDP growth as well as a further decline in the Kingdom’s share of the oil market. Meanwhile, the announcement that direct flights from the UK to Egypt’s Red Sea resort of Sharm el-Sheikh will soon restart adds to the reasons to expect economic growth to strengthen a little further next year.
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