Oman Tribune - the edge of knowledge:
"Oil price declines could dampen economic growth in the Gulf Cooperation Council countries and weaken operating conditions in the corporate and infrastructure sectors, according to a report from the rating agency Standard & Poor’s.
The report, ‘Lower oil prices will test GCC corporate and infrastructure issuers’ resilience’, says that the lower oil price could slow economic growth for the GCC countries and weaken the operating environment for the corporate and infrastructure sectors. A prolonged period of lower government revenue, given GCC governments’ high infrastructure spending plans, may push up sovereign and government-related entity capital market issuance and place a greater onus on the private sector to fund investments.
The rating agency had recently revised its Brent crude oil price assumption to $85 per barrel for the remainder of 2014 and $90 for 2015 and beyond. The Brent price was now in the $83 range."
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