A new report says that the combined economy of the six Gulf oil producers went up by around 4.5 per cent in 2010. It is projected to expand at a faster pace of 5.9 per cent this year because of high oil prices. A Federation of the GCC chambers of commerce and industry gave the report. It says that the surge in oil export earnings will also widen the collective current account surplus in the Gulf Cooperation Council GCC countries to 6.9 per cent of the GDP this year from around 4 per cent in 2010. GCC comprise Saudi Arabia, Qatar, Bahrain, Oman, the UAE and Kuwait. The report says that the rise would be coupled by a surge in average oil prices. It cites that the recent sharp rise has been due to fighting in Libya, which is a OPEC member.