The latest developments following Saudi Arabia’s execution of 47 people, including a prominent opposition Shiite cleric who had rallied demonstrations in the kingdom (All times local). 2:25 p.m. Saudi Arabia’s Continue Reading
Saudi Arabian Oil Minister Ali al-Naimi talks to journalists before a meeting of OPEC oil ministers at OPEC’s headquarters in Vienna in this file picture taken December 4, 2013. Saudi Continue Reading
Saudi Arabia’s planned cuts in spending and energy subsidies signal that the world’s largest crude exporter is bracing for a prolonged period of low oil prices. The OPEC heavyweight shows Continue Reading
Saudi Arabia is better equipped to wait out currently low oil prices than other producers, Saudi Aramco Chairman Khalid al-Falih said on Monday, adding that he expected a more stable Continue Reading
Confronting a drop in oil prices and mounting regional turmoil, Saudi Arabia reduced energy subsidies and allocated the biggest part of government spending in next year’s budget to defense and Continue Reading
Saudi Arabia Aims to Cut Spending Saudi Arabia, the world’s biggest crude exporter, continues to cut its dependence on oil revenue due to the slump in oil prices, even as Continue Reading
Saudi Arabia Aims to Cut Spending Saudi Arabia expects to post a budget deficit of 367 billion riyals ($98 billion) as spending came higher than targeted and revenue dropped amid Continue Reading
Total oil revenues for Saudi Arabia for the year are expected to be 23 percent less than the previous fiscal year, the Finance Ministry said Monday. The ministry reported total Continue Reading
Saudi Arabia on Monday unveiled plans to cut expenditures and sharply raised domestic fuel prices as the world’s top oil exporter attempts to cope with a new era of cheap Continue Reading
Saudi Arabia on Monday sharply raised domestic fuel prices, according to the official Saudi press agency, shortly after the world’s top crude exporter said it plans to adjust subsidies for Continue Reading
