Financial reserves of oil-producing countries vulnerable to depletion A specialized economist said that the financial reserves and surpluses of oil-producing countries are vulnerable to depletion in the event of continuing decline of global oil prices and with the pace of public spending remaining around the current high levels. Professor of economics at the College of Administrative Sciences, Kuwait University, Dr. Mohammed Al-Saqqa said in an interview with Kuwait News Agency (KUNA) on Sunday that the economies of oil-producing countries (including Kuwait) are facing a real challenge represented in the growth of public spending without “control” to high levels amid the decline witnessed in oil prices in global markets approaching the level of USD 80 per barrel (bd). Al-Saqqa added that this growth in public spending resulted in the consequent rise in the minimum level of the price of an oil barrel, necessary to balance the budgets of […]