SAUDIS NEED $84
PLATTS - Saudi Arabia will require oil prices higher than $84/b to avoid running another deficit, analysts warned after the kingdom announced on Tuesday record government spending in its state budget for 2019.
The budget calls for spending of 1.106 trillion riyals ($350 billion) for the year, up 7% from 2018, despite oil prices slumping in the fourth quarter and the kingdom pledging to cut output as part of OPEC's agreement to balance the market.
Analysts with Riyadh-based…
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BP and partners have sanctioned the Azeri Central East (ACE) project, the next stage of development of the giant Azeri-Chirag-Deepwater Gunashli (ACG) oilfield complex in the Azerbaijan sector of the Caspian Sea.
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