Full 2026 Dubai outlook report: https://www.emiratesnbdresearch.com/-/media/dubai-positive-private-and-public-sector-momentum-will-power-growth-in-2026.pdf
Edward Bell, Acting Group Head of Research and Chief Economist for Emirates NBD, will be available to conduct interviews.
Oil markets to extend slump in 2026
- Oil demand growth is set to slow in line with moderate global economic activity in 2026.
- OPEC+ has unwound substantial production restraint and along with supply increases from non-OPEC+ producers, supply will overwhelm demand in 2026.
- Global inventories are forecast to build at a faster pace than during the Covid-19 pandemic, helping the market to absorb exogenous shocks.
- Prices will decline for a fourth year in a row with Brent at an average of USD 60/b and WTI at USD 55/b.
Full 2026 Oil outlook report: https://www.emiratesnbdresearch.com/-/media/Research/Article/2025/december/emirates_nbd_research_-_commodities_oil_2026.pdf
Edward Bell, Acting Group Head of Research and Chief Economist for Emirates NBD, will be available to conduct interviews.
Outlook for Saudi remains positive in 2026
- Growth in Saudi Arabia is expected to accelerate to 4.8% in 2026, with continued strong non-oil activity supplemented by rising oil production following OPEC+ production increases.
- Non-oil growth is expected to be supported by real private sector consumption and project spending.
- While some investments within the Kingdom are reevaluated, the sheer scale of the pipeline means that project spending will likely continue to provide stimulus.
- We expect the fiscal deficit to hold close to levels seen in 2025, reaching 5.2% of GDP in 2026.
Full 2026 Saudi Arabia outlook report: https://www.emiratesnbdresearch.com/-/media/Research/ksa-2026-outlook.pdf
Edward Bell, Acting Group Head of Research and Chief Economist for Emirates NBD, will be available to conduct interviews.
