Arab Gulf economy is booming

The secretary general of the Organization of the Arab Petroleum Exporting countries OAPEC Abdul Aziz al-Turkey has expected that the Gulf economy will achieve a high increase of growth might reach 20%.

He also expected oil revenues at the Gulf Cooperation Council GCC member states to increase to US $ 125 billion in this year.

In a statement to the Kuwaiti daily al-Seyasah issued on Thursday, Abdul Aziz al-Turkey said the role played by OAPEC is not limited to cooperation and coordination among the OAPEC's Arab member states but also extends to cover all Arab states in the field of energy in general.

Concerning the possibilities of increasing the Arab states production of oil in the future, al-Turkey explained that the production is confined to OPEC's production policy, noting that increasing oil production is desirable in light of future expectations for the increasing world demand for oil.