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Saudi data suggests budget crunch may be several years away
But a study says the world may have entered a sustained period of low oil prices, leaving Riyadh vulnerable
Add BT as a preferred sourcePublished Sun, Aug 9, 2015 · 09:50 PM
Dubai
PRESSURE on Saudi Arabia's state finances is mounting as oil prices fall, but the latest official figures suggest the world's top crude exporter still has at least several years before it faces a budget crunch.
Brent oil sank last week to below US$50 a barrel, near six-year lows, from US$70 three months ago. That promises to increase the rate at which the kingdom is drawing down its foreign reserves to cover its budget deficit.
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