Kees Hoving, co-CEO of Deutsche Bank Middle East and Africa, expects an average decline Brent crude price in mid 2022, to $64 a barrel.
“We expect the oil supply to rise in 2022 to outpace the increase in demand,” he said.
Hoving stressed, in an exclusive interview with Al-Arabiya, that the factors of Corona’s mutants, high inflation and the trends of central banks are the important factors affecting the markets in 2022.
He explained that the impact of Corona on supply chains and food security is very large, and said, “We need large investments to fight climate change. Inflation will affect asset prices and investment in 2022, and banks can help avoid risks and allocate assets.”
Hoving explained that Deutsche Bank’s outlook for 2022 is positive in the Gulf countries, especially Saudi Arabia, with improved oil prices, and performance in light of Saudi Vision 2030, which is characterized by a clear vision for investment.
“Saudi Arabia and the UAE have taken effective steps in facing economic challenges, and the rise in oil prices has strengthened the ability of Gulf countries to invest,” he said.
And the co-CEO of Deutsche Bank, Middle East and Africa, considered that the Corona mutations may affect the tourism sector and its investments in 2022.
