Saudi Arabian economic growth to accelerate in 2025 as oil taps open

Economic growth in Saudi Arabia will accelerate next year thanks to higher oil output after two years of modest performance, according to a Reuters poll of economists, who also forecast robust growth for other Gulf Cooperation Council (GCC) states. The Organization of the Petroleum Exporting Countries and allies led by Russia, known as OPEC+, has been curbing oil output since late 2022 but is expected to increase production in December, likely boosting revenues for the six GCC countries. Crude oil prices are expected to remain broadly weak and average $76.75 per barrel next year, up from around $74.8 currently, according to a separate Reuters poll.