What oil price does Saudi need to balance its budget?

Our estimates for 2023:
• $91 if we just focus on budgetary spending
• $108 if we also include domestic investments by the sovereign wealth fund

Now the IMF is raising its estimate for 2024 to $96

bloomberg.com/news/articles/…

LATEST on #OPEC
*IMF SEES OPEC+ STARTING TO LIFT OIL OUTPUT GRADUALLY FROM JULY
*IMF ASSUMES ‘FULL REVERSAL’ OF OIL OUTPUT CUTS AT START OF 2025

Iranian state media appears to be downplaying a strike US officials attributed to Israel.

Bloomberg's Joumanna Nasr Bercetche 🇱🇧 reports on the latest developments: trib.al/kCVG88E

Cloud seeding doesn't really cause downpours or floods, at least nothing like what drenched the UAE and paralyzed #Dubai , meteorologists say via AP

bloomberg.com/en/news/thp/20… via Bloomberg Green

Gaza’s city of #Rafah is now home to more than a million refugees. It’s also #Israel ’s last major military target. Using satellite analysis to identify damaged buildings & refugee tents, here is what it looks like after 6 months of war.
bloomberg.com/graphics/2024-… @bbgvisualdata

Flights into #Dubai were diverted and cars were left stranded on flooded roads after record rainfall over the past day brought the city to a standstill
bloomberg.com/news/articles/… via Bloomberg Green Verity Ratcliffe & Kateryna Kadabashy

Exclusive: '5,000 lives in one shell': #Gaza 's #IVF embryos destroyed by #Israeli strike reuters.com/world/middle-e…

Iran’s unprecedented attack on Israel has put key US ally Jordan on edge.

Sam Dagher explains why bloom.bg/448yZ3e

#SaudiArabia did not participate in intercepting #Iranian attacks on #Israel , sources confirm
saudigazette.com.sa/article/642103

Interesting to see that 6 months of geopolitical tensions haven't dented demand for luxury #homes in #Dubai .

Sales of homes costing $10 million or more climbed 19% in Dubai during the first quarter

bloomberg.com/news/articles/… via Bloomberg Pursuits

Today I joined the #UnitedForSudan rally to make clear we cannot be silent in the face of the atrocities & humanitarian crisis we're seeing in Sudan.

A year into this war, the world must rally to END the violence, increase aid & demand full accountability for those responsible.

. Hamdan bin Mohammed directs #Dubai Government employees to work remotely and private schools to conduct remote learning tomorrow.
hamdan.ae/en-us/news/det…

Israeli journalist Ronen Bergman has a remarkable quote from a source with knowledge of Israeli discussions on Iran: 'If the talks were broadcast live on Youtube, you'd have 4 million people clamoring at Ben Gurion airport trying to get out of here.' ynet.co.il/news/article/b…

The subject of Arab Jews is almost never talked about, but for centuries and sometimes millennia, Jewish communities were integral to the Arab and Muslim world. They were vital elements of their larger societies and felt right at home where they were.

In Yemen, Morocco,

🚨🚨🚨Scoop: The Biden administration asked Israel to notify the U.S. ahead of any retaliation against Iran for the U.S. to have a say before decisions are made, U.S. and Israeli officials told me. My story on Axios
axios.com/2024/04/12/ira…

Invited to address a conference in Berlin about my work in Gaza hospitals during the present conflict.
The German government has forcibly prevented me from entering the country
Silencing a witness to genocide before the ICJ adds to Germany's complicity in the ongoing massacre.

'I chose journalism, then wars chose me. Exposing war crimes — wherever they occur — is central to my identity as an American, a journalist and a Jew.'

From my latest article in the Washington Post (gift link)-- washingtonpost.com/opinions/2024/…

Saudi and the Gaza war

Riyadh is caught between:
- Popular support for Palestinians
- Fear that the war would radicalise the population
- US pressure to normalise with Israel

ft.com/content/821b67…

#SaudiArabia scales back its ambitions for #Neom , the biggest of MBS’s megaprojects.

By 2030, the government at one point hoped to have 1.5 million residents in The Line. Now, officials expect the figure to be under 300,000.

bloomberg.com/news/articles/… Zainab Fattah Matthew Martin

السعودية طلبت من الكويت 16 مليار دولار لتستثمرها في نيوم ومشاريع اخرى
بلومبيرغ
+
في عنبر ابيضّ لامع على الساحل الغربي للمملكة العربية السعودية، اجتمعت النخبة التجارية والسياسية في المملكة العام الماضي للإشادة بأحد أخطر رهانات ولي العهد الأمير محمد بن سلمان حتى الآن.

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