A significant hike in oil prices in the past five years has boosted the reserves of the six Gulf Cooperation Council member states by some $70 billion, the Gulf News reported. Latest data from the World Bank has indicated that the reserves of the UAE, Saudi Arabia, Kuwait, Qatar, Bahrain and Oman have reached one of the highest levels - $145.1 billion at the end of last year compared with $75.1 billion at the end of 2000.
