Middle East Economic Survey

VOL. LII

No 15

13-Apr-2009

REGIONAL/GCC

Producers Revise Down Oil Prices For 2009 Budgets

Most oil producers have continued to revise down oil price assumptions to calculate their 2009 budgets, according to data coming in as many finalize numbers put forward in initial drafts. Early drafts of 2009 budgets had been based on higher prices, but as oil tumbled rapidly from the $147/B peak made in July last year to current levels of around $50/B, price assumptions have been...