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OPEC member Kuwait headed for 14th surplus year

Posted on 19 November 2012

OPEC member Kuwait is headed for its 14th consecutive year of budget surplus thanks to strong oil prices and high production, an economic report said on Sunday.
The oil-rich Gulf state is expected to post a surplus of between 9.8 billion dinars ($34.8 billion) and 12.8 billion dinars ($45.4 billion) in the current 2012/2013 fiscal year, the National Bank of Kuwait said. The projections were based on an average oil price of between $104 and $107 a barrel for Kuwaiti crude, the NBK report said……………………………………….Full Article: Source


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