Saudi Arabia 'could live comfortably at 2015 oil prices'

Economy minister asked if a particular oil price band is needed for sweeping reforms to work
Saudi Arabia 'could live comfortably at 2015 oil prices'
By Reuters
Thu 09 Jun 2016 09:40 AM

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.

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