Where Hugo needs the price of oil to be

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turtlefoam

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Where Hugo needs the price of oil to be

posted on Oct 22, 2008 11:14AM

sorry Hugo

from:

http://www.bloomberg.com/apps/news?p...

Saudi Arabia needs oil prices of less than $30 a barrel to balance its government budget, according to Merrill Lynch & Co. estimates. The United Arab Emirates requires $40 a barrel and Qatar $55.

Iran, with double the population of Saudi Arabia, has a breakeven point of about $100 a barrel, according to Edward Morse, managing director and chief economist at Louis Capital Markets LP in New York. In Venezuela, where President Hugo Chavez's government is spending oil revenue on social programs, the figure is about $120.

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