Saudi needs oil above $49 to avoid deficit; Qatar break-even $24: IMF

DUBAI: Saudi Arabia, the world


Oil prices have fallen drastically in the past two month, shedding over $50 in value since they hit $147 a barrel in July, raising concerns over the continued strength of Persian Gulf Arab economies.

Saudi Arabia, the Middle East largest economy, depends on oil and gas sales for 90% of its export income.