Gulf oil economies suffered through the last oil price crash, issuing record levels of debt in 2020. Now, with oil prices well above $100 and set to stay there for the foreseeable future, GCC economies are thriving and IPOs in the Middle East are setting records. It seems that the oil-rich economies in the region have learned their lessons from the last two oil price crashes, working hard to diversify their economies. Just two years ago, the Gulf oil economies were issuing record debt to cope with the massive oil market downturn caused by the pandemic lockdowns. Now, the region is thriving with oil above $100 per barrel and is likely to remain there for the observable future. Bloomberg reported this week that initial public offerings in the Middle East had enjoyed their best first-half ever this year, with total proceeds at $11.4 billion over the first five months […]