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Saudi Arabia Needs $74 a Barrel to Balance its 2012 Budget
Dec. 27, 2011 11:56AM PST
Oil and Gas InvestingBloomberg reported that according to Jadwa Investment Co., Saudi Arabia requires $74 a barrel for its crude exports in 2012 in order to balance its budget.
Bloomberg reported that according to Jadwa Investment Co., Saudi Arabia requires $74 a barrel for its crude exports in 2012 in order to balance its budget.
As quoted in the market news:
For Saudi oil prices to reach $74 a barrel, the kingdom needs around $70 a barrel for WTI and $78 a barrel for Brent, Jadwa, a diversified investment business based in Riyadh, said in an emailed report today.