IMF Official: Saudi Arabia needs oil at $85 to $87 to balance budget

A Senior Official from the International Monetary Fund (IMF) was out on the wires last minutes, via Reuters, stating that Saudi Arabia needs oil at $85 to $87 to balance the budget.

Saudi Arabia has forecasted a budget deficit of about $52 billion for this year

Additional Headlines:

Riyadh's break-even oil price was $83 in 2017.

Expectations for 2018 is that it will be around $85 to $87.