Oil prices may average $60-65/b on balanced market this year, QNB has said in an economic commentary.
The QCB's forex reserves equate to more than six and a half months of import cover, QNB said in its latest ‘Qatar Monthly Monitor’.
Qatar and other major LNG players will continue to operate on long-term contracts to ensure steady flows and to utilise oil price indexation, according to QNB.
Bank assets in Qatar grew 10.9% year-on-year (y-o-y) in July to QR1.3tn, compared to a growth of 11.6% in June, a new report has shown.
Higher oil prices and the positive fiscal outlook should provide a lift to Qatar’s economy, particularly in the non-hydrocarbon sector, QNB has said in an economic commentary.
Qatar's real economic growth is expected to rise to 2.6% this year and further to 3.6% in 2018, even as inflation is expected to harden by 2018 in view of the value added tax (VAT) rollout, according to QNB.
Qatar oil production increased to 615,000 bpd in April from 610,000 bpd the previous month, QNB’s new data showed.