Saudi Arabia Needs $74 a Barrel to Balance its 2012 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.

Click here to read the full Bloomberg report.