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…
Log in to read the publication.
An authorized user gets access to four FREE publications per month.
You can also buy a full access to all publications of the site since January 2014.