GCC Oil Producers Likely to Boost Output in 2H, Emirates NBD Says

The video discusses recent trends in the oil market, highlighting the shift to contango and the impact of US sanctions on Iran. It examines supply factors like Libya's production and US rig numbers, and demand concerns due to tariffs. The forecast for oil prices remains stable, with expectations of increased OPEC production. The GCC's oil production and economic growth are analyzed, noting a previous downgrade due to slower-than-expected production increases.

What is the expected average oil price for the year as mentioned in the text?

What were the reasons for the downgrade in growth numbers for the UAE?