Investment professionals in the GCC are more worried about the US president Donald Trump’s future energy policy than any potential withdrawal from global trade agreements, according to the CFA Institute’s Middle East members’ sentiment survey.
More than 50 per cent of respondents cited Mr Trump’s pro-energy agenda as the policy most likely to affect the region, while less than 20 per cent cited trade policies.
“While Europe and Asia are more concerned with global trade, in the GCC the concern was more about energy policy,” said Amer Khansaheb, the president of CFA Society Emirates.
Almost 70 per cent of members polled felt that oil prices would average between US$50-$60 per barrel this year. Just over 20 per cent thought prices may fall to $40-$50, and only 10 per cent expect prices to rise above $60.
Mr Khansaheb said that if oil prices remain steady, a repeat of the record bond issuance that took place in the region last year looks unlikely.
“It goes hand in hand,” he said.
Follow The National's Business section on Twitter