Saudi Arabia’s break-even oil price was about $80 a barrel in 2010, the chief economist at Dubai International Financial Centre Authority said.
The kingdom uses as much oil domestically as Germany, which has four times as many people, Nasser Saidi said at a conference in Dubai on Monday.
The break-even oil price for many countries in the Middle East is about $80-$85 a barrel, making them very vulnerable to fluctuations in prices as it’s easy to increase spending but a lot harder to bring that spending down, he said.
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