IMF Official: Saudi Arabia needs oil at $85 to $87 to balance budget

Dhwani Mehta FXStreet

A Senior Official from the International Monetary Fund (IMF) was out on the wires last minutes, via Reuters, stating that Saudi Arabia needs oil at $85 to $87 to balance the budget.

Saudi Arabia has forecasted a budget deficit of about $52 billion for this year

Additional Headlines:

Riyadh's break-even oil price was $83 in 2017.

Expectations for 2018 is that it will be around $85 to $87.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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