Oil revenue of Gulf Cooperation Council (GCC) members is likely to cross $600 billion in 2008, prolonging the economic and investment boom in the region for the medium term, according to a report by Gulf Finance House.
Conflict in Georgia has shaken but is unlikely to scare off investors in the region, drawn by its energy resources and vital oil and gas links to the West.
Indian diesel demand is surging ahead at its fastest rate in a decade this year with little sign of abating soon as more companies and homeowners use it to generate emergency power supplies.
The Organisation of Petroleum Exporting Countries (Opec) should trim its oil output if demand continues to fall in slowing industrialised economies, Iran's Opec governor Mohammad Ali Khatibi said.
