gulfnews : UAE set for oil windfall for second year

Despite signs of a slowing global economy, international oil prices continue to hold well above $100 (Dh367) a barrel, enabling the UAE to look at windfall gains from crude exports for a second year in a row, said a well-known petroleum expert.

"Infrastructure spending patterns in the UAE will be positive on higher state spending as the government continues to achieve higher profits from oil sales," Dalton Garis, Associate Professor of Economics and Petroleum Market Behaviour at Abu Dhabi's Petroleum Institute, told Gulf News.

"Higher oil export revenues also mean the government will have a greater cushion to meet other state expenses," he added.

* username: rupertbu