​Gulf weekly: Coronavirus impacts oil and flights, UAE gasfield discovered, PMIs decline

GULF COUNTRIES - Report 07 Feb 2020 by Rory Fyfe and Justin Alexander

The weekly is a skimmable summary of key developments by country, overlaid with our analysis and links to further information. Headlines include:

* OPEC+ is considering an additional 600k b/d cut in response to the coronavirus.
* Many Gulf airlines have cancelled China flights, and Saudi has banned all travel to China.
* A giant UAE gasfield has been discovered, which should help it achieve self-sufficiency.
* A Qatari bond issuance is reported to be imminent.
* PMIs declined in Saudi, Qatar and UAE (which fell into its first contraction since 2009).
* Oman is auctioning its latest 7yr local development bond.
* Lebanon’s government announced a fiscal plan, although details are scarce.
* Iraq’s president nominated a prime minister in an effort to break the deadlock in parliament.
* The risk of renewed UN sanctions on Iran has been reduced given plans to extend JCPOA dispute resolution.

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