Saudi Arabia’s Breakeven Oil Price To Drop To $65 Next Year

Higher oil prices and an expected rebound in the global economy and oil demand are set to lower the fiscal breakeven oil price of the major Middle Eastern oil producers this year and next, with the breakeven oil price for Saudi Arabia dropping to $65.70 in 2022 from $77.90 in 2020, the International Monetary Fund (IMF) said. In its regional economic outlook published on Sunday, the IMF forecasts that all oil exporters from the Middle East and North Africa (MENA)—except for Iran—will see their fiscal breakeven oil price, the oil price…