close

policy

We would like to invite you to continue a survey you have started. ...

Do you trust your insurer ?

Strongly agree
Agree
Disagree
Strongly disagree
Insurance provides peace of mind
Insurance is purchased only when compulsory
Terms and Conditions (small print) are clear and easily accessible
Insurance jargon (language) stands in the way of fully understanding each policy
Insurance companies try their best to uphold the details of the policy without cutting corners
Reducing risk, cutting costs and profits are more important to an insurance company than the customer
Insurance companies in the region are as professional as in other more developed markets
Gender
Age group
Do you feel your insurance provider works in your interest?
Have you had a rejected claim that you feel was not justified?
Do you trust your insurance provider?
Our Network

Register for our free newsletter

 
 
Latest News

Oil finds $100 floor on Saudi politics, output cost

Oil finds $100 floor on Saudi politics, output cost

Saudi set $75 a barrel "fair price" when economy weak while Bullish Goldman sees marginal output cost as $100 a barrel. Meanwhile, Former Saudi oil minister says oil prices could leap to $200-$300 a barrel if Saudi Arabia is hit by serious political unrest.

0

April 5, 2011 12:18 by



“It seems clear that Saudi, and therefore OPEC, priorities have now changed as a result of the events of the past few months,” said Chris Weafer, chief strategist at Moscow’s Uralsib investment bank.

As it strives to stifle trouble, Saudi King Abdullah last month offered $93 billion in handouts.

Weafer estimates Saudi Arabia now needs close to $100 a barrel to balance its budget.

DOOMSAYERS
While that is at the top end of a wide range of estimates, there is broad agreement that Riyadh’s oil price aspirations are flexible.

“The markets have provided the Saudis with confirmation of the fact that the risk premium is here to stay implying elevated crude prices,” said Shelley Goldberg, director of commodities strategy at Roubini Global Economics.

“What this implies is that the Saudis, and others, are likely to throw money at this growing problem to placate doomsayers and oil supply shock vigilantes, which will have the effect of raising their budgetary break-even price for oil. The Saudi “comfort zone” is now over $80 a barrel.”

That the global economy is at the start of a new cycle of growth, not entering recession as was the case in 2008 when oil prices were last as high, may encourage Riyadh to think elevated prices will not derail oil demand growth.



Pages: 1 2 3 4

0

Tags: , , , , , ,

Leave a Comment