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Oman’s reshuffle, peace with Israel, Saudi-OPEC

The shake-up at Oman’s foreign ministry this week may herald a warming of ties with the rest of the Gulf and pave the way for bilateral financial support. Bahrain is reported to be next in line to strike a peace deal with Israel and, if this is true, its close ally Saudi Arabia has almost certainly given a seal of approval and could follow suit. Meanwhile, this week’s JMMC meeting of OPEC members provided further evidence that Saudi Arabia is frustrated with other producers’ non-compliance, which could raise the risk that it returns to its market share oil policy.
Jason Tuvey Senior Emerging Markets Economist
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