Oil at $104: Egypt’s Budget Assumptions Under Threat, TV Host Warns
Part of composite article Saudi Pipeline Knocked Out, Houthis Seize Red Sea Islands — Oil Hits $110 and Diesel Sets Record High View full article →
Egyptian TV host Amr Adib has warned that rising global oil prices could push up fuel costs in Egypt.
Speaking on his program, Adib noted that the price of a barrel has exceeded US$104. He questioned how the government would respond, given that its budget calculations were based on a price of $75 per barrel.
The remarks highlight growing concern over the gap between current market prices and official assumptions.