Kiss Hofing, co-CEO of Deutsche Bank in the Middle East and Africa, expects the average price of Brent crude to decline in mid-2022, to $64 a barrel, as he said, "We expect an increase in oil supply." in 2022 to outpace the increase in demand.
In an exclusive interview with Al-Arabiya channel, Hofeng confirmed 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 he said we need large investments to combat 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.
He said Saudi Arabia and the UAE have taken effective steps in the face of economic challenges, and the rise in oil prices has strengthened the ability of the Gulf countries to invest.
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.
