Saudi Arabia could live comfortably with oil prices as low as they were in late 2015, said Economy and Planning Minister Adel Fakieh.
"We believe that we will comfortably live with the prices that the market has been experiencing even last year,” he said when asked if a particular oil price band was needed for sweeping Saudi economic reforms to work.
“At the end of last year, the prices were much worse than now.
“This is a very effective plan," he added, referring to the planned reforms.
Brent crude was trading in the low $40s a barrel in December 2015.For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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