The failure of OPEC+ to reach an agreement over new output quotas has raised the likelihood that the deal collapses and the Gulf states ramp up production. Elsewhere, Oman has asked for IMF assistance with its fiscal plans but it will still probably have to continue relying on financial support from the rest of the Gulf. And finally, while Egypt’s vaccination programme got a boost this week, it will still be sometime before restrictions are lifted, which will dash hopes of a revival in the tourism sector this summer.
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