18 Oct '15, 5pm

#peakoil Saudi Arabia’s fiscal break-even oil price to be around $US 100: The latest IMF Article IV consultati...

#peakoil Saudi Arabia’s fiscal break-even oil price to be around $US 100: The latest IMF Article IV consultati...

There are downside risks to the projections in the IMF Article IV report (September 2015). If oil prices remain lower than assumed and exports drop, the fiscal adjustment scenario would require to reduce expenditure further which will not be popular and may lead to domestic problems. Alternatively, the Saudi government would have to borrow more or draw additional funds from its foreign currency reserves. It is claimed that Saudi oil is geologically cheap to produce. What is clear is that it comes with a hidden price tag in the Saudi budget. The number on it is triple digit (Jeff Rubin) which is not good for an oil-dependent global economy as we have learned in 2011-2014. The only logical conclusion is that we have to make our economies less dependent on oil, as fast as possible.

Full article: http://peakoil.com/production/saudi-arabias-fiscal-break-...

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