ab 16 July 2026 Global Research MENA Equity Research 3Q26 MENA Outlook: Resilience to Rebound We revised down our GDP growth forecasts for the KSA and UAE for 2026 to reflect deeper oil output cuts in both economies and a greater slowdown in the non-oil sectors in the UAE. At the same time, we now expect a sharper rebound in 2027 - particularly in the UAE, where oil production in 2027-28 is likely to be 12-13% above earlier OPEC-era trajectory. We cut GDP forecast for Saudi Arabia from 2.9% to 0.7% for 2026 ...