How Bad Was The Saudi Trillion-Dollar Mistake? -- December 26, 2017

It will take them more than a decade to balance their budget. 

From Bloomberg:

• Saudi assumes: oil revenue will surge by 80% by 2023 -- that's five years from now; and almost ten years from when Saudi first announced plans to flood the world with oil, to crush US shale (their trillion-dollar mistake)
• six-year program to balance the budget
• their plant assumes rising oil prices and increasing output: will push oil sales to 801.4 billion riyals ($214 billion) from 440 billion riyals this year
• assumes the price of oil will reach $75 (when that happens is not provided)
• one expert says these assumptions look very "challenging"
• "the strong oil revenue growth in 2017 will be difficult to repeat"
• forecast: oil production to 11.03 million bopd vs an average 10 million bopd
• for 2020: 10.45 million bopd

From another story earlier this month, this is how the Saudi's plan to execute their budget: