Will Oman Hit Its Lofty Oil Output Goals? ...Middle East

OILPRICE - Economy
Will Oman Hit Its Lofty Oil Output Goals?
source : OILPRICE ( Middle East ) () 19
Facing a budget deficit this year alone that may reach 18 per cent of GDP, according to S&P Global Ratings, and budget deficits averaging at least 15 per cent per year over the next five years, according to various analyst estimates, Oman’s economy is desperate to try to extricate itself from the financial hole dug for it by Saudi Arabia’s 2014-2016 and 2020 oil price wars. With a fiscal breakeven oil price of just over US$109 per barrel (pb) of Brent this year, according to the IMF, and over 80 per cent of its revenues still coming…

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