Gulf weekly: OPEC+ forges 10m b/d deal, Qatar & Abu Dhabi issue $17bn

GULF COUNTRIES - Report 10 Apr 2020 by Justin Alexander and Rory Fyfe

The weekly is a skimmable summary of key developments by country, overlaid with our analysis, the outlook and links to further information. Headlines include:
* OPEC+ agrees to 2-years of historic cuts but market is not yet impressed.
* Qatar issued $10bn in bonds and Abu Dhabi issued $7bn. Dubai is mulling a bond.
* Qatar released Q3 and Q4 GDP, showing its first full-year contraction since 1993.
* Coronavirus cases doubled in the GCC, roughly in line with trends over the past few weeks.
* Intensive lockdowns continued and were extended.
* Some further stimulus measures were announced in UAE and Bahrain.
* However, significant spending cuts were announced by Dubai, Qatar and Oman.
* Kuwait has submitted a new debt law to parliament and is considering a loan from the KIA.
* Saudi announced a 2-week ceasefire in Yemen.

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