Nigeria is worst off, needing air jordan 6 toro an oil price of $139 a barrel to balance its budget, Fitch said in a April 5 report on 14 major oil exporting nations in the Middle East, Africa and emerging Europe. Even after cuts in government subsidies and currency devaluations, 11 of them won’t have balanced government budgets this year, including Saudi Arabia, it said.
“Fiscal reforms and exchange rate adjustments are generally supporting barron trump height tall nikes melania donald trump improved fiscal positions compared to 2015, but have not prevented erosion of sovereign creditworthiness nike huarache 2004 black mustang gt manual South Beach CZ0328 – 400 2021 Release Date Info – nike huarache 2004 black mustang gt manual , IetpShops,” Fitch said.
Only Kuwait, Qatar and the Republic of Congo have estimated break-evens Air Jordan 2012 Lite 'White Black' that are below Fitch’s oil price forecast for this year. Kuwait at $45 a barrel traditionally has a low break-even because of its high per-capita hydrocarbon production and more recently its “large estimated investment income” from its sovereign wealth fund, Fitch said.
Brent crude, a global benchmark, has averaged about $55 a barrel this year.
The rating agency said it “substantially” raised the fiscal break-even prices for Nigeria, Angola and Gabon from 2015 levels because of rising government spending.
Fitch’s forecast 2017 break-even oil prices, per barrel:
- Nigeria at $139
- Bahrain at $84
- Angola at $82
- Oman at $75
- Saudi Arabia at $74
- Russia at $72
- Kazakhstan at $71
- Gabon at $66
- Azerbaijan at $66
- Iraq at $61
- Abu Dhabi, United Arab Emirates, at $60
- Republic of Congo at $52
- Qatar at $51
- Kuwait at $45
