Call it the Saudi calculus. Oil prices were already plummeting 14 months ago when, at Saudi Arabia ’s insistence, OPEC put the global petroleum industry on notice: The member countries Continue Reading
Along the King Fahd highway in downtown Riyadh, signs of the country’s wealth glitter and dazzle. Monuments include the massive Kingdom Centre – instantly recognisable by the giant bottle-opener feature Continue Reading
Iraq’s Oil Minister Adel Abdel Mahdi talks to journalists as he arrives at his hotel ahead of a meeting of OPEC oil ministers in Vienna, Austria, December 2, 2015. OPEC Continue Reading
With oil trading near $30 a barrel, calls for orchestrated output cuts to quell global oversupply have intensified this week. Trouble is, none of the world’s largest producers, most notably Continue Reading
Saudi Arabia outlined ambitious plans on Monday to move into industries ranging from information technology to health care and tourism, as it sought to convince international investors it can cope Continue Reading
Egypt will get about $20 billion in oil products from Saudi Arabia over five years, a government official said, marking the kingdom’s latest display of support for its struggling North Continue Reading
The world’s biggest oil producer is spending as much now as it did before the crash in crude prices, signaling no surrender in Saudi Arabia’s battle with rivals. Saudi Arabian Continue Reading
Low oil prices have pushed top exporter Saudi Arabia to hasten difficult economic reforms and cut spending on popular benefits, but it has few options beyond sticking with a strategy Continue Reading
Saudi Arabia has described the collapse in oil prices to below $30 as “irrational” and expects the market to recover in 2016 even as the country continues to keep production Continue Reading
Saudi Arabia faces profound challenges to its economy and political system as a result of the slump in oil prices, which will test the skill of the country’s ruling elite Continue Reading
