Gulf countries, including Saudi Arabia, waiting for a “severe” crisis, says analyst David Fickling. In his opinion, if the price of oil at $20 per barrel the Saudis will lose all your money by 2027. He noted that the Arabs were able to ride the wave of high oil prices, but “any wave sooner or later settles”.A serious economic crisis in the near future awaits Saudi Arabia and the Gulf countries. About it in his column for Bloomberg, wrote analyst David Fickling.
“Price war in oil markets will only accelerate the moment when the precarious nature of the economies of the Persian Gulf will be presented ill the bill”, — said the journalist.
According to Fickling, the international reserves of Saudi Arabia will be reduced – a conclusion he made after studying data from the International Monetary Fund in 2019. He also suggested that the decline in the reserves of Sautov reached a five-month import bill in 2024 – if oil prices remain at around $50-55 per barrel.
Even in this case, the Saudi monarchy waiting for an “incredible crisis,” and we can forget about the fixed rate of the US dollar, emphasized Filing. If the price of oil will be around $20 per barrel, Saudi Arabia will lose all your money by 2027.