- Home
- >
- Commodities Daily Forecasts
- >
- IMF – S. Arabia needs oil price of $85 per barrel
IMF - S. Arabia needs oil price of $85 per barrel
Rating:
Loading...Political changes in Saudi Arabia, as well as recent military activities in the Middle East, have led to additional burdens on the budgets of many countries in the region. The low oil price we observed over the past two years has greatly weakened the treasuries of the Arab world, and even now the strongest economy in the region, Saudi Arabia is producing oil under Break Even Point-a (The price at which the yield does not bear either profit loss). To obtain S.A. "to zero," oil prices should jump to $83 a barrel, and expectations for 2018. are priced between $85 and $ 87 a barrel.
The technical price is in ascending trend and level of horizontal support, but input from current levels will be risky because the price is far from the main diagonal. The foundation around the black gold remains positive and the long ones are more appropriate. We need to wait for a basic diagonal test and an appropriate Price Action to have enough logging criteria.
Source: Bloomberg Pro Terminal
Trader Petar Milanov Read more:
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
