Middle East states in line for $1.3tn windfall from extra oil revenues

IMF says it expects region's oil and gas exporters to benefit from high prices over next four years

Middle Eastern states are to land a $1.3tn (1.09tn) windfall from extra oil revenues over the next four years, according to the International Monetary Fund.

The IMF said on Friday it expected oil and gas exporters in the region, notably the Gulf states, to benefit from high prices and opportunities to ramp up their market share.