Saudi Arabia's break-even oil price $80 a barrel, Saidi says

Kingdom uses as much oil domestically as Germany, which has four times as many people, DIFC economist says
Saudi Arabia’s break-even oil price was about $80 a barrel in 2010, the chief economist at Dubai International Financial Centre Authority said
By Bloomberg
Mon 28 Mar 2011 10:40 AM

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.

Related: Nasser Saidi is ranked No 330 in the Arabian Business Power 500 list. Click here to view profile

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