Riyadh September 18 2024: Saudi Arabia need an oil price of USD 96.2 per barrel to achieve fiscal break even, which is slightly up from last year break even levels of USD 93.3 per barrel, according to IMF estimates.
Countries like Iran and Kazakhstan exhibit high fiscal breakeven prices, while Qatar and UAE have relatively lower requirements.
Fiscal Breakeven Oil Price refers to the oil price that balances government budgets
(The oil price at which the fiscal balance is zero)
| Country | Average (2000–20) | 2021 | 2022 | 2023 | Projections 2024 | Projections 2025 |
|---|---|---|---|---|---|---|
| Algeria | 101.1 | 111.4 | 109.8 | 93.8 | 125.7 | 119.4 |
| Azerbaijan | 52.6 | 57.5 | 67.3 | 76.4 | 88.2 | 89.3 |
| Bahrain | 85.0 | 131.6 | 131.8 | 138.4 | 125.7 | 127.8 |
| Iran | 92.4 | 113.4 | 105.1 | 121.0 | 122.0 | 123.7 |
| Iraq | 70.9 | 54.2 | 68.5 | 80.4 | 83.8 | 90.0 |
| Kazakhstan | … | 183.5 | 95.3 | 109.3 | 123.5 | 109.3 |
| Kuwait | 59.6 | 87.6 | 81.5 | 81.0 | 83.5 | 78.3 |
| Libya | 75.0 | 52.2 | 64.4 | 65.9 | 66.0 | 63.7 |
| Oman | 70.1 | 76.7 | 55.4 | 57.2 | 58.1 | 53.9 |
| Qatar | 45.3 | 47.7 | 46.5 | 46.5 | 43.1 | 40.4 |
| Saudi Arabia | 80.0 | 83.6 | 88.1 | 93.3 | 96.2 | 84.7 |
| Turkmenistan | 37.9 | 28.9 | 31.5 | 34.2 | 35.8 | 37.1 |
| United Arab Emirates | 50.0 | 53.0 | 46.6 | 51.6 | 56.7 | 54.3 |
External Breakeven Oil Price is the price at which the current account balance is zero
(The oil price at which the current account balance is zero)
External Breakeven Oil Price
(The oil price at which the current account balance is zero)
| Country | Average (2000–20) | 2021 | 2022 | 2023 | Projections 2024 | Projections 2025 |
|---|---|---|---|---|---|---|
| Algeria | 84.8 | 79.2 | 70.6 | 75.1 | 80.6 | 83.8 |
| Azerbaijan | 57.7 | 69.5 | 110.6 | 101.2 | 101.5 | 105.8 |
| Bahrain | 54.0 | 34.6 | 53.4 | 42.2 | 35.8 | 43.3 |
| Iran | 40.2 | 44.5 | 55.0 | 45.4 | 46.2 | 42.9 |
| Iraq | 65.4 | 57.4 | 64.2 | 74.4 | 78.2 | 84.3 |
| Kazakhstan | 87.2 | 83.9 | 63.4 | 125.6 | 146.3 | 106.3 |
| Kuwait | 36.9 | 44.2 | 48.4 | 47.8 | 50.0 | 49.3 |
| Libya | 54.6 | 52.8 | 55.1 | 56.7 | 48.2 | 42.4 |
| Oman | … | 76.5 | 85.6 | 73.7 | 69.9 | 67.1 |
| Qatar | 50.0 | 43.6 | 48.3 | 38.7 | 40.8 | 37.7 |
| Saudi Arabia | 53.6 | 58.1 | 54.4 | 69.8 | 72.7 | 74.9 |
| Turkmenistan | 40.8 | 21.7 | 26.5 | 27.5 | 27.8 | 29.9 |
| United Arab Emirates | 43.4 | 16.8 | 36.1 | 34.7 | 35.7 | 35.1 |
