“Normal” still far away, Dubai bouncing back?

There was fresh evidence this week that oil production in the Gulf is now back near pre-war levels. But the situation in global energy markets is still fragile and achieving a lasting peace in the region is fraught with difficulty. Meanwhile, a raft of recent indicators suggest that Dubai’s economic recovery is gathering pace. A lot depends on the next phases of the war but, once the conflict has passed, we think Dubai is well placed to retain its status as the Gulf’s pre-eminent financial and commercial hub and returning to a strong growth trajectory.