Bank sees Saudi 2020 deficit despite $80/bl crude

摘要

Private-sector Riyadh-based Samba bank expects oil prices to hover around $40/bl this year, rising to $60/bl in 2017 and reaching almost $80/bl by 2020. But this will not be enough to prevent the country running a fiscal deficit out to 2020 that is “at first sight alarming” though the broader financial outlook “remains manageable.” “Prices will need to rise significantly in order to provide the supply to match future demand,” says the bank in its 2016-2020 Fiscal Financing Outlook on Saudi Arabia published today.