The expected economic impact of COVID-19 for the businesses in Kuwait
The expected economic impact of COVID-19 for the businesses in Kuwait
The GCC countries that rely on oil revenues have been hit harder as oil prices reached record lows due to a combination of falling demand and increased supply. The OPEC+ agreed to a deal on 12 April, 2020 for a daily production cut ~10 million barrels but price outlook for oil price remains weak in light of weaker demand.
The GCC countries that rely on oil revenues have been hit harder as oil prices reached record lows due to a combination of falling demand and increased supply. The OPEC+ agreed to a deal on 12 April, 2020 for a daily production cut ~10 million barrels but price outlook for oil price remains weak in light of weaker demand.