Oman Is Vital To Iran And China’s Energy Agenda ...Middle East

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Oman Is Vital To Iran And China’s Energy Agenda
source : OILPRICE ( Middle East ) () 29
Although Oman’s fiscal breakeven price per barrel of Brent crude oil has fallen to US$61 this year, the fact that it was over US$90 on average for much of the past decade has resulted in long-term financial problems that need quick solutions. Even before its dire economic situation was made worse by another Saudi-instigated oil price war in 2020, the Sultanate had been facing a budget deficit for that year alone of at least 18 percent of GDP and budget deficits averaging at least 15 percent per year over the next five years. Oman has very…

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