Regional oil revenues to remain strong
Posted: 27 August 2007
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The head of the Middle East’s premier international energy futures and commodities exchange forecast that oil revenues in the region will remain strong for the immediate future.
Dubai Mercantile Exchange (DME) chief executive officer Gary King will give an analysis of the regional energy outlook when he addresses a British Business Group event in Dubai on Monday night.
“I believe we will be in a period of sustained high energy prices for some time in our current climate and will continue to live in an environment of high energy price volatility,” says King, who will be speaking at the BBG’s latest special interest group meeting at the World Trade Club Dubai.
“I expect oil revenues in the region to continue to remain strong and there will be a high degree of liquidity in the regional market,” he added.
Furthermore, King expects this liquidity to continue to be invested in regional infrastructure, real estate, and financial sectors, particularly commodities, private equity, and other asset management initiatives.
The DME is a joint venture between Tatweer, a member of Dubai Holding, the New York Mercantile Exchange, and the Oman Investment Fund, and is uniquely positioned to provide price transparency and market liquidity for crude oil from the world’s foremost oil producing and exporting regions. |
