(Oil Price)– Saudi Arabia’s budget deficit is growing this year as oil prices are down from last year’s levels and well below the $90 per-barrel price the Kingdom is estimated to need to balance its budget. Brent Crude oil prices have declined by about 8% since the beginning of the year, at around $69 a barrel as of early Tuesday, additionally
(World Oil)– Alberta is projecting a wider deficit for the current fiscal year as oil prices fall, denting a key source of revenue for Canada’s top energy-producing province. The deficit will widen to US$4.7 billion (C$6.5 billion) in the fiscal year ending in March, C$1.3 billion bigger than previously forecast, the provincial government said Thursday. Driving the wider shortfall is
(BOE Report) – Canada’s oil-producing province of Alberta on Thursday forecast a budget deficit of C$5.2 billion ($3.5 billion) for the 2025/26 fiscal year if U.S. tariffs are implemented and decrease government revenues and slow economic growth. The outlook reflects a dramatic reversal of Alberta’s fiscal health, following what is expected to be a C$5.8-billion budget surplus in the current fiscal
