Fitch Ratings says price of at least $90 per barrel seen as optimal for Riyadh
PUBLISHED : 6 Feb 2024 at 14:26
An oilfield operated by Saudi Aramco is seen near Shaybah in the Empty Quarter of Saudi Arabia. (Photo: Reuters)
Saudi Arabia will need oil prices to average more than $90 a barrel this year to balance its budget, according to Fitch Ratings, which affirmed the kingdom at the fifth-highest investment grade but warned about its heavy reliance on…
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