Baku, Azerbaijan, May 2
By Leman Zeynalova – Trend:
The lowest fiscal and external breakeven oil prices among MENAP (Middle East, North Africa, Afghanistan, and Pakistan) oil exporters in 2017 are projected in Kuwait, according to the updated Regional Economic Outlook of the International Monetary Fund (IMF).
IMF experts estimate the fiscal breakeven oil price – the oil price at which the fiscal balance is zero – for Kuwait to stand at $49.1 per barrel in 2017.
The external breakeven oil price – the oil price at which the current account balance is zero – is forecast for the country at $43 per barrel for 2017.
The fiscal and external breakeven oil prices for Kuwait for 2018 are expected at $50.4 per barrel and $44.1 per barrel, respectively, according to the report.
The fiscal breakeven oil prices for other MENAP countries are forecast as follows: Saudi Arabia - $83.8 per barrel in 2017 and $74.4 per barrel in 2018, the United Arab Emirates - $67 per barrel in 2017 and $58.6 per barrel in 2018, Libya - $71.3 per barrel in 2017 and $90.6 per barrel in 2018, Iran - $51.3 per barrel in 2017 and $58.8 per barrel in 2018, Iraq - $54.3 per barrel in 2017 and $56.5 per barrel in 2018.
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