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Kuwait bases 2015 budget on $45 oil - minister

Kuwait bases 2015 budget on $45 oil - minister

Written by: Ahmed Awad

 

Kuwaiti Finance Minister Anas al-Saleh said today that Kuwait's upcoming state budget 2015-2016 will be based on hypothetical price of oil in the range of $45 per barrel.

 

Kuwait, Gulf oil rich state , oil production is assumed at 2.7 million barrel per day, while oil revenues are set to stand at KWD10 billion and non-oil revenues are set to stand at KWD1.4 billion , added al-Saleh in exclusive statement to Mubasher.


   
Earlier, the Kuwaiti oil minister stated that Kuwait will cut the price of oil in the upcoming state budget to come within the range of $45 to $40 per barrel.