The continued strength of the oil price means that Saudi Arabia is set for another successful economic performance this year and unless there is a change in this market, should deliver a second successive year with a budget surplus.
Economic analysts have been revising their projections for this year upwards as during the first quarter of the year both prices and production exceeded expectations.
Based on an estimated $28.50 a barrel average price for the year and 8.3 million barrels a day production (compared with 8.7 million b/d in 2003) Brad Bourland, chief economist at...
