Gulf energy flows, Egypt’s IMF deal and rate decision

Reports this week suggest that crude oil flows from the Gulf have returned to pre-war levels which, if sustained, will boost regional GDP and oil export receipts. But, so long as there is no political solution to the Iran war, flows will remain volatile and vulnerable to bouts of disruption. Elsewhere, Egypt is nearing the end of its IMF deal and reports suggest the government will not opt for another one. While that is testament of the improvements in policymaking recently, it may also be a sign of a reluctance to push through structural reforms.