NIGERIAN OIL OVER DOUBLE 2017 BREAK-EVEN PRICE ACCORDING TO FITCH RATINGS / by Alistair Galloway

According to Fitch Ratings Ltd., oil is projected to be sold at an average of $52.50/barrel in 2017, leaving eleven oil exporting countries with an unbalanced budget for the year. In an April 5 report, even after cuts in government subsidies and currency devaluations, these countries won’t have balanced government budgets in 2017.