Salient to Investors:
Tyler Durden writes:
- ZIRP has allowed insolvent US oil producers to stay in business and help keep oil prices low, and now Saudi Arabia and Qatar are also tapping the credit markets.
- Saudi Arabia needs crude at $100 to finance their budget deficit estimated to be 20% of GDP.
- Qatar’s budget deficit is only 0.7% of GDP and in the best financial shape relative to its neighbors.
- Saudi Arabia and Qatar are highly likely to be drawn further into the conflict in Syria.
Read the full article at http://www.zerohedge.com/news/2015-09-07/petrostate-cash-crunch-continues-amid-oil-collapse-proxy-wars
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