In contrast to the majority of countries in the GCC, Oman’s fiscal breakeven oil price — the calculated oil price needed for the government to balance its books — has been recently revised down in the IMF’s most recent Regional Economic Outlook. Having calculated a breakeven price of $66/B in April, the IMF brought this down to $55/B, going against the trend of major GCC neighbors Saudi Arabia, UAE, and Qatar.
The IMF is scheduled to visit Oman later this year as the country prepares its annual budget. Following this meeting the Ministry of Finance will likely revise its fiscal breakeven prices for the coming years as oil revenues and fiscal reforms take effect. (CONTINUED - 826 WORDS)
