Oil Prices Climb on Venezuela Blockade, Russia Sanctions Fears, and Supply Risks 
Dollar Holds Firm Ahead of Global Central Bank Decisions as Yen, Sterling and Euro React 
Best Gold Stocks to Buy Now: AABB, GOLD, GDX 
U.S. Stocks End Week Higher as Tech Rally Offsets Consumer Weakness 
Gold and Silver Surge as Safe Haven Demand Rises on U.S. Economic Uncertainty 
Japan Inflation Holds Firm in November as BOJ Nears Key Rate Hike Decision 
Japan Exports to U.S. Rebound in November as Tariff Impact Eases, Boosting BOJ Rate Hike Expectations 
Precious Metals Rally as Silver and Platinum Outperform on Rate Cut Bets 
U.S. Stock Futures Edge Higher as Micron Earnings Boost AI Sentiment Ahead of CPI Data 
Trump Orders Blockade of Sanctioned Oil Tankers, Raising Venezuela Tensions and Oil Prices 
Since the oil price crash of 2014, several OPEC economies have taken prudent and sometimes draconian measures to cut their budget deficit and reduced fiscal breakeven oil price. The price of oil has increased over the past two years riding on OPEC production deal optimism and as the market has rebalanced. This week, the price of Brent, which is widely considered as the global oil price benchmark traded as high as $64.5 per barrel, which is the highest price since June 2015.
However, despite all the measures taken, the fiscal breakeven oil price for the majority of the OPEC economies remain still far off from the current price. Here is the list of OPEC economies with estimated fiscal breakeven oil price (calculations are done by IMF),
- Yemen: For 2017, the fiscal breakeven oil price is estimated at $125 per barrel, down from $160 per barrel in 2014.
- Libya: For 2017, the fiscal breakeven oil price is estimated at $102 per barrel, down from $206 per barrel in 2014.
- Bahrain: For 2017, the fiscal breakeven oil price is estimated at $99 per barrel, down from $103.3 per barrel in 2014.
- Oman: For 2017, the fiscal breakeven oil price is estimated at $83.6 per barrel, down from $94 per barrel in 2014.
- Saudi Arabia: For 2017, the fiscal breakeven oil price is estimated at $73.1 per barrel, down from $105.7 per barrel in 2014.
- United Arab Emirates: For 2017, the fiscal breakeven oil price is estimated at $68 per barrel, down from $91 per barrel in 2014.
- Algeria: For 2017, the fiscal breakeven oil price is estimated at $63.8 per barrel, down from $135.3 per barrel in 2014.
- Iran: For 2017, the fiscal breakeven oil price is estimated at $54.7 per barrel, down from $100 per barrel in 2014.
- Iraq: For 2017, the fiscal breakeven oil price is estimated at $54.1 per barrel, down from $101.4 per barrel in 2014.
- Qatar: For 2017, the fiscal breakeven oil price is estimated at $46.8 per barrel, down from $56.1 per barrel in 2014.
- Kuwait: For 2017, the fiscal breakeven oil price is estimated at $46.5 per barrel, down from $54.5 per barrel in 2014.
Note that for Yemen and Libya, the fiscal breakevens are over-elevated due to continued war in the region.
Also, note that the current oil price ($63.3 per barrel) is higher than the fiscal break evens of only four OPEC countries.
