Saudis Need $70 Oil To Break Even

Saudi Arabia needs oil prices at $70 per barrel in 2018 in order to breakeven, the International Monetary Fund (IMF) said on Tuesday in its Regional Economic Outlook on the Middle East and Central Asia. The Saudi breakeven oil price to achieve zero deficit in 2017 is $73.10, according to the IMF, compared to $96.60 for 2016. Among the oil exporters in the region, Saudi Arabia has cut its breakeven oil price by the most between 2016 and 2017, but its budget breakeven price of oil is not the lowest in the region. The lowest breakeven price for 2017…

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