SAUDI ARABIA

Jadwa Lowers Saudi Oil Price Forecast, Predicts Further Fundraising

Saudi investment bank Jadwa has lowered its forecast 2015 price for Saudi crude to $57/B, whilst raising its production forecast to 9.8mn b/d. Though 100,000 b/d higher than actual 2014 output, this is actually 500,000 b/d lower than the 10.3mn b/d rate at which Saudi Oil Minister Ali Naimi recent said the kingdom was producing (MEES, 10 April).

Based on its updated numbers, Jadwa estimates that Saudi...