Middle East Economic Survey

VOL. LIII

No 27

5-Jul-2010

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...