RE:RE:RE:Veren is the ugliest girl in the bar Saudis play a long game. Saudi government and OPEC are essentially one of the same. The Saudi government will slow down civil projects, borrow and issue more bonds to cover any shortfall if it ensures continued existence of their golden goose and the power they exert internationally. Do you remember the mantra shouted from the rooftop years ago regarding Aramco going public? How did that play out? As for the $90 oil to balance their budget... who says they have any interest in balancing their budget? So long as they stay onside of US, China and India, they are golden.
Fraz says Hi. He also says that he misses you and wonders why you stopped calling him.
Ocalaman wrote: Hans, they did have a breaken price of about $10 decades ago but that oil is depleted and the breaken is much higher now due to cost of new development and the crown princes budget to expand the economy from oil to everything else. Heres a snapshot from Perplexity AI on Saudi breaken prices
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- 2024 Projections: As of April 2024, the IMF projected that Saudi Arabia would need an average oil price of $96.20 per barrel to balance its budget, reflecting ongoing fiscal pressures related to ambitious economic transformation projects and high public spending commitments .