Image copyright Saudi Arabia’s budget deficit soared to $98bn (£65.7bn) this year as the world’s biggest oil exporter counted the cost of falling crude prices. In the first budget under Continue Reading
Saudi Arabian stocks declined the most in two weeks after the kingdom announced one of its biggest shake-ups in economic policy. Forward contracts for the riyal were poised for the Continue Reading
Saudi Arabia has destabilized the global oil market by increasing production, TASS news agency quoted Russian Energy Minister Alexander Novak as saying on Monday. “Saudi Arabia has this year increased Continue Reading
Saudi stocks declined after a speech by the king stoked speculation the Arab world’s biggest economy will probably cut spending next year as the plunge in oil prices pressures the Continue Reading
The drastic slide in global crude prices is expected to force Saudi Arabia, the world’s leading oil exporter, to slash spending and cut back on the billions of dollars it Continue Reading
A caustic slogan is doing the rounds on social networks in the Gulf states this festive season: “All I want for Christmas is for oil prices to go up.” Gloom Continue Reading
Saudi Arabia’s crude oil exports in October rose by 253,000 barrels per day from September to 7.364 million bpd, official data showed on Sunday. The oil exporting heavyweight maintained high Continue Reading
Another Saudi consolate is expected to open in Erbil, according to reports. (Zawya) Saudi Arabia has reopened its embassy in Iraq, a quarter of a century after Riyadh broke off Continue Reading
Will There Be Oil Oversupply for the Next Two Years? A push in the region echoes its U.S. strategy from the 1980s At the heart of Korea’s Onsan Refinery lies Continue Reading
Saudi Arabia said Tuesday that 34 nations have agreed to form a new “Islamic military alliance” to fight terrorism with a joint operations center based in the kingdom’s capital, Riyadh. Continue Reading
