UAE’s strong fiscal position to support growth | GulfNews.com:
"The UAE’s hydrocarbon reserves are very large, both in absolute and per capita terms. According to the 2013 BP Statistical Review of World Energy, the UAE’s proven oil and gas reserves approximated 138 billion barrels of oil equivalent in 2012, which would last about 88 years at the current rate of production, slightly lower than Kuwait and Qatar. Per capita, the UAE had the fourth highest level of oil and gas reserves globally, at about 15,000 barrels of oil equivalent.
Credit rating agency Moody’s expect Brent benchmark oil prices remaining firm at an average of about $109/barrel (Dh400) in 2013 to $105/barrel in 2015.Even if the oil prices were to fall due to a supply glut, it would be limited by the unconventional oil producers’ high breakeven oil price, which is approximately $60-$70 per barrel for the US shale oil fields.
The UAE’s fiscal breakeven oil price is coming down, a unique feature among GCC countries. Because of extraordinary fiscal support programmes in 2009-2011, the UAE’s fiscal breakeven oil price rose sharply."
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