GULF WEEKLY: Oil rebounds on Russian sanctions, US & Qatar warn EU over LNG, Kuwait portfolio flows spike in Q2

GULF COUNTRIES - Report 24 Oct 2025 by Justin Alexander

A skimmable summary overlaid with our analysis and links. Headlines:

* Oil has rebounded to nearly $67 as a result of new US and EU sanctions on Russia.
* The IMF hiked its GCC oil GDP growth forecast for 2025 to 4.2% and for non-oil to 3.8%.
* Saudi gigaproject awards so far this year have been about a third of the level in 2024.
* Tradeweb has launched a trading system for Saudi riyal sukuk and bonds.
* It was reported that MBS will visit the US on November 18, the first trip in seven years.
* Emirates NBD announced the $3bn acquisition of Indian bank RBL.
* ADQ launched a $2bn+ critical minerals fund with the US government and Orion Resources.
* The US and Qatar jointly warned about the implications of an EU sustainability directive on LNG.
* Erdogan visited Qatar, Oman & Kuwait and is in talks to buy Eurofighters from Qatar and Oman.
* Qatar mediated an Afghanistan-Pakistan ceasefire and received an award for freeing US hostages.
* Kuwait’s current account surplus narrowed in Q2, but its portfolio flows spiked, both inward and outward.
* Oman’s deficit narrowed in Aug on surprisingly strong hydrocarbon revenue and low spending.
* In Oman, EDO secured a $1bn syndicated loan, and OETC sold a $750m green sukuk.
* Bahrain’s parliament did not support a bill to study Gulf Air privatization.
* The Gaza ceasefire held despite violations, and JD Vance and Marco Rubio both visited Israel.
* Databank updates: Oman fiscal, Kuwait BoP, Oman & Qatar inflation, IMF forecasts.

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