Middle East Economic Survey


No 27


Strong Crude Price Boosts 2010 Budgets, Encourages Higher 2011 Estimates

With the first half of the year over, most oil producing countries look set to either post a budget surplus or a smaller than forecast deficit if crude prices remain close to their current levels. Crude prices have by and large stayed above $70/B the OPEC Basket price was hovering in the $70-75/B range last week and many budgets assume oil at well below this level (see...