GCC To Consider Uniform Fuel Prices

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Hira Shahnawaz Akhtar
Published on
Updated on

The Gulf Cooperation Council (GCC) has discussed the possibility of imposing unified fuel prices across the GCC nations. This prospect was discussed yesterday in the 32nd Petroleum Cooperation Committee meeting held yesterday at the GCC headquarters in Riyadh, Saudi Arabia. GCC is a political and economic union of Middle Eastern states and includes Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and UAE. Of these six nations, three are also members of the OPEC (Organization of Petroleum Exporting Countries). These six countries have a combined production of crude oil of approximately 17.3 million barrels per day. Figure 1: GCC crude oil production…

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Hira is a financial analyst whose expertise lies in commodity and other financial markets. Hira is currently an independent financial consultant and is working with many international firms like American Arab Solutions (AAS). She has previously served as a Senior Research Analyst at Alternate Research (Pvt.) Ltd. as the Team Leader for the International Equities Research. She has also worked as an equities analyst of Pakistani E&P stocks at Invest Capital Markets. She has experience in business development and conducting feasibility studies in commodity markets, specifically in sugar, palm oil and canola oilseeds. She has cleared all three levels of her CFA (Chartered Financial Analyst) and has an undergraduate degree in Finance.