Low oil prices haven't been great for countries that heavily rely on the commodity.
Governments in oil-producing states need oil's price to stay above a certain price so that they can meet their spending commitments.
In a note to clients, Deutsche Bank's strategist Michael Hsueh shared a chart that shows the fiscal break-even price per barrel for major OPEC and non-OPEC countries — the price that they need to balance their national budgets.
Libya needs the highest price, above $180/barrel, to break even. Qatar can get by with oil below $80/barrel. Russia and Saudi Arabia's break-even prices are both around $105/barrel, and Iran's is neary $130.
Meanwhile, Brent Crude is currently trading around $56/barrel — far below what these major producers would ideally like to see.Image may be NSFW.
Clik here to view.
SEE ALSO: OIL EXPERT: 'A potential return of Iranian oil to the market could not have come at a worse time'
