Economics
Oil States Need Price Jump to Balance Budget: OPEC Reality Check
- Only Qatar can break even with oil at estimated $57.50 in 2016
- Libya needs crude to reach $269 as conflict fuels instability
The Outlook for Oil Amid Climate Change Talks
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If the Organization of Petroleum Exporting Countries keeps its policy of favoring market share over prices when it meets Dec. 4, most members will probably find themselves unable to balance their budgets.
Oil futures have tumbled more than 25 percent since OPEC’s last meeting in June, yet the group will keep pumping to batter rival producers, according to 30 analysts and traders surveyed by Bloomberg. With Brent crude forecast to average about $57.50 a barrel next year, only Qatar would be able to keep its finances in check.