KSA needs oil price between USD80-85 to balance budget: IMF
Saudi Arabia would need oil to be priced at USD80-85 a barrel to balance its
budget in 2019, Reuters reported, quoting an International Monetary Fund (IMF)
official. “Riyadh's breakeven oil price depends on several factors, including
the level of oil production, how much of Saudi oil revenues are transferred to
the budget, and how non-oil revenues perform this year,” Jihad Azour, Director
of the IMF’s Middle East and Central Asia department, said. "But if you
take the (2019) budget as presented with everything remaining equal, a
breakeven point would be around USD80-85," he added.
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