Oil prices have risen about 20 percent since falling to a year's low of around $70 a barrel on March 20. Most GCC economies are expected to remain in double-digit current account surpluses in 2023, despite fears of slowing oil production.
Inflation in the region is expected to be between 2.1 and 3.3 percent this year, and to fall below that in 2024, according to a Reuters poll published on Wednesday. However, inflation estimates for the Gulf countries were lower than in many major economies.