Question

Crude futures in New York were lower on Wednesday, following a record decline in the first quarter

Oil held near $20 a barrel as Saudi Aramco’s output surged above 12 million barrels a day, but Russia said it would refrain from further production hikes.

Crude futures in New York were lower on Wednesday, following a record decline in the first quarter.

While state-run Aramco’s oil supply has surpassed 12 million barrels a day and is ticking higher, Russia said it won’t lift output as it’s not profitable to do so, according to a government official familiar with the country’s plans.

President Trump has said the US will meet with Saudi Arabia and Russia in an attempt to bolster prices.

The market is grappling with a bumper oversupply, while demand is set to fall by as much as 30 million barrels a day in April, according to an executive at the world’s largest independent oil trader.

Any agreement to cut output would likely be too late and would fall short of the loss in consumption, according to Goldman Sachs Group Inc.

Industry data signaled that US oil stockpiles are set for their biggest weekly increase since 2017.

“I don’t think they’re going to come to the table for talks just yet, because for both sides, it would require a significant step-down,” Amrita Sen, chief oil analyst at Energy Aspects said in a Bloomberg TV interview. “I do think both Russia and Saudi Arabia will be forced to cut back production, not because there’s a deal or they’re talking, but because of market forces.”

Prices:
West Texas Intermediate lost 21 cents to $20.27 a barrel as of 10.35am in London
Brent crude for June settlement fell 4.8 per cent to $25.09
Dated Brent, the benchmark for two-thirds of the world’s real oil supply, was assessed at $17.675 on Tuesday, down 11.5 cents from Monday when it was already the lowest price since 2002

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Required Question

Question 01: What are the entrepreneurial skills needed in order to draw different businesses in the Gulf countries?

Answer 1

Question 01: What are the entrepreneurial skills needed in order to draw different businesses in the Gulf countries?

Answer:

Gulf countries, widely known as middle east region is a hub for investors and is developing in quite a fast pace. A rapid growing population with inherent technology integration along with the young generation these days, with a substantial effort helping together to encourage other business opportunities apart from oil & gas industries which were ruling the complete middle east region since its existence. Some of the major entrepreneurial skills required to be able to draw different business in the gulf countries includes an ability of the individual to see things through and be a visionary. Another very important requirement is to be able to understand the gulf culture & people around as being united if an entrepreneur if one could read the same, it would be never the less become quite easy to be able to take the new plan of the action of the business to the top. And last but not the least, self-motivation. As Gulf is one of the regions where having self-belief is very much important unless things are smooth & steady, of course as time flies.