The windfall from oil exports in recent months may have given the Gulf Cooperation Council (GCC) states enough cushion to enable them to carry on with their development projects and investment ventures for months in the likely event of another recession hitting the global economy, experts say.

International oil prices have surged nearly $40 (Dh146.92) a barrel in the last six months due to the West's tensions with Iran over its controversial nuclear programme and supply concerns, given the unrest in several oil exporting countries in the Middle East... "The crude exporting countries know very well that the windfall gains do not last for long. This has happened before and will happen again. The countries may have already planned how they are going to use their surplus from oil revenues. In my view, much of the surplus funds would be deployed in developmental projects and will get invested through their sovereign wealth funds," Amerah added... http://gulfnews.com/business/oil-gas/oil-windfall-boosts-gulf-spending-1.987736