Wednesday, May 20, 2015

Saudi spending habits



"Moreover, its economic health is predicated on crude prices staying high. Saudi’s break-even — the oil price required to balance the budget in any given year — has been rising fast, from $68 a barrel in 2012 to between $95 and $106 this year, according to a report by Khalid Alsweilem of the Belfer Center. With oil now trading far below that level, the budgetary implications for Riyadh are worrying."