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Tunisia trying to benefit from Saudi, Russian oil feud

Tunisia is studying hedging fuel purchases after the sharp drop in oil prices following the coronavirus crisis, in order to reduce its energy deficit, the finance minister said on Tuesday.

Nizar Yaich added that Tunisia would benefit from lower prices.

The clash of oil titans Saudi Arabia and Russia sparked a 25% slump in crude prices on Monday to reach its lowest level since 1991. Brent oil prices on Tuesday were at $37 per barrel.

Tunisia expects that hydrocarbon subsidies will reach 1.8 billion dinars, out of a total of 4 billion dinars allocated for all subsidies.

Source: Reuters

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