Bahrain to Make Over $16 Million a Day after Oil Barrel Price Exceeds $111

2022-03-06 - 1:29 p

Bahrain Mirror: The price of Bahrain's crude oil, categorized as Arab medium oil, surged above $111 per barrel, which will provide the state budget with $16 million per day, due to implications of the Russian-Ukrainian military crisis on global markets.

Bahrain's direct export of Abu Safah crude oil for international markets reached about $111 per barrel, while Saudi oil known as Arab light reached $112.89 per barrel and Oman oil reached $112.68. UAE's Murban crude oil registered $112.68 per barrel, Qatari crude oil $109.70 and Kuwait's oil $110.

Bahrain exports 150,000 barrels per day of crude oil, its share of the 300,000 bbl/d  Abu Safah offshore field with Saudi Arabia.

Bahrain will make more than $16 million a day as oil prices increase to more than $110 per barrel. 

According to the general budget, if oil prices remain more than $100 for a whole year, the huge deficit will change into a historic surplus in the budget. 

Arabic Version



المصدر: Bahrain Mirror
رابط الموضوع: http://bhmapi.servehttp.com/en/news/61260.html