Saudi Arabia to Review Spending Priorities After Oil Price Slide ...Middle East

OILPRICE - Economy
Saudi Arabia to Review Spending Priorities After Oil Price Slide
source : OILPRICE ( Middle East ) () 33
Saudi Arabia will review its spending priorities after the oil price decline, and will consider whether to delay or accelerate some projects, the Kingdom’s Finance Minister, Mohammed Al-Jadaan, told the Financial Times in an interview published on Thursday. Saudi Arabia needs oil prices at about $90 per barrel to balance its budget. The world’s top crude oil exporter is already running a higher-than-planned deficit, which is set to swell with the oil price dip in the second quarter. With oil prices having crashed into the $60 a barrel…

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