Facts, News, Trends, Analysis
King Abdullah of Saudi Arabia made comment on the condition of the Saudi Arabian economic situation on Sunday, saying that he believes the Kingdom’s economy to be in excellent condition and that they only suffered a little from the recent economic crisis seen in nations around the world. The King also said that the Kingdom [...]
As everyone has noticed in the US, gas prices have been dropping continually. Oil prices recently reached $70 a barrel, which is half of what they cost in July. While other OPEC countries seem to be sitting on the edge of their seats, Saudi Arabia sits in a pleasant spot because they have made economic [...]
A recent study conducted by the IMF, shows that Saudi Arabia will need the oil price to stay above $49 a barrel to avoid a fiscal deficit. That compared to UAE’s break-even price of just $23 and Qatar’s $24. Saudi Arabia is the Gulf region’s largest economy. However, a significant portion of its GDP is [...]
Kuwait City – Under pressure from OPEC price hawks, Saudi Arabia reluctantly agreed to a mild cut in oil output, but the world’s top exporter will do what it takes to keep the market balanced, analysts said on Thursday. The kingdom, which pumps one-third of OPEC production, is caught between the organization’s hawks pressing for [...]
