According to the International Monetary Fund (IMF) via Bloomberg, Saudi Arabia requires a higher oil price this year to balance its budget as the OPEC+ leader spearheads production cuts. The IMF estimates that Saudi Arabia needs an average oil price of $96.20 per barrel, assuming it maintains crude output near 9.3 million barrels per day (bpd). Additionally, the IMF projects that OPEC+ will begin to gradually increase oil output starting from July, with a full reversal of the output cuts anticipated at the start of 2025. This increase in production is expected to catapult Saudi Arabia back into the ranks of the world's fastest-growing economies.
The IMF expects OPEC and its partners to start increasing oil output gradually from July, a transition that’s set to catapult Saudi Arabia back into the ranks of the world’s fastest-growing economies https://t.co/WhcOU8TimC
The IMF expects OPEC and its partners to start increasing oil output gradually from July, a transition that’s set to catapult Saudi Arabia back into the ranks of the world’s fastest-growing economies https://t.co/vcLo9anJwa
The IMF expects OPEC and its partners to start increasing oil output gradually from July, a transition that’s set to catapult Saudi Arabia back into the ranks of the world’s fastest-growing economies https://t.co/NI0YgwP3yC
IMF Sees OPEC+ Beginning To Lift Oil Output Gradually From July
IMF ASSUMES A FULL REVERSAL OF OIL OUTPUT CUTS AT THE START OF 2025.
IMF SEES OPEC+ STARTING TO LIFT OIL OUTPUT GRADUALLY FROM JULY.
No OPEC+ production hikes anytime soon (Source: IMF via Bloomberg) #crudeoil #oott https://t.co/vBcriz7xyo
According to the IMF: Saudi Arabia will require an average oil price of $96.20 a barrel to balance its budget, assuming it holds crude output steady near 9.3 million bpd this year. #OOTT #Opec
Saudi Arabia needs oil in the region of $100 to balance its budget, the IMF believes . https://t.co/h8eBauk5w3
Saudi Arabia will need a higher oil price this year as the OPEC+ leader spearheads the group’s production cuts, according to the IMF - Bloomberg
Saudi Arabia will need a higher oil price this year as the OPEC+ leader spearheads the group’s production cuts, according to the IMF https://t.co/bey4FUfb8U via @markets
Saudi Arabia will need a higher oil price this year as the OPEC+ leader spearheads the group’s production cuts, according to the IMF https://t.co/DRWYp4OYbh