(Bloomberg) — Saudi Arabia’s Finance Ministry is budgeting for oil prices to be around $50 a barrel for the next three years, according to a Goldman Sachs Group Inc. analysis of the kingdom’s fiscal plans.“Using our own estimates for the breakdown of government revenues, we calculate that the numbers presented in the budget statement are based on an average oil price of around $50 a barrel between 2020 and 2023,” said Farouk Soussa, a London-based analyst at Goldman, referring to a pre-budget statement from Sept. 30.Brent crude fell 6.3% to $39.27 a barrel last week as more countries tightened restrictions …read more
Source:: Yahoo Finance
