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May 2, 2020
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“Moody’s” reduces Saudi Arabia’s credit outlook to negative Due to the collapse of the oil price, causing fiscal risk
Foreign media report that Moody’s Investors Service has an international credit rating institute. Saudi Arabia has downgraded Saudi Arabia’s credit rating to “negative” from “stable”, claiming that falling oil prices on the world market. Make Saudi Arabia face greater risks in the country’s finances
Moody’s maintains Saudi Arabia’s credit rating at A1, claiming that the Saudi government has a relatively strong balance sheet. Even if it decreases While liabilities are medium level AND still have a high level of fiscal liquidity
In the past month, WTI crude fell to the negative level for the first time since trading in oil futures on the NYMEX, as investors were concerned about oversupply. And he believes that governments around the world use blocking measures, which includes ordering people to stay at home AND a travel ban to control the outbreak of the Covid-19 virus will result in continued demand for oil.
On April 20 WTI Crude Oil for delivery in May. It sank at $ 55.90, or 306%, to close at -37.63 dollars / barrel. And Brent crude contract for June delivery. A drop of $ 2.51, or 8.94 percent, to close at $ 25.57 a barrel. What is the lowest level in more than 20 years?
