Saudi Arabia Announces A Record Budget -- December 20, 2018

Prior to this news story, it was forecast that Saudi's "break-even" price for oil is $84/bbl going into 2019. Let's see if this story provides the "new" "break-even" price for Saudi Arabia.

From oilprice:

• Saudi Arabia's proposed 2019 budget: almost $300 billion 
• seven percent (7%) more than 2018
• breaks all previous spending records for Saudi Arabia
• includes a hefty bill for cost-of-living allowances introduced this year
• those allowances add an estimated $13 billion
• the deficit will go to 4.2%; previous forecast at 2%
• the sixth straight year of budget deficits for the kingdom
• this year's (2018) deficit projected to be 4.6%
• finally, at the end of the article, the break-even is estimated to be $88 but it's not clear if that takes into account all the new information
• OPEC basket and Brent are each trading at around $55
• simple arithmetic suggests that Saudi Arabia could be selling each bbl of oil at a loss of $33/bbl -- yes, I know

The number I will be tracking: 1,800,000 million Saudi Riyals. Ten-year graphic:

Before the market dropped, Jeff Bezos, in very rounded numbers, had a net worth of about $150 billion.