Saudi economy sends mixed signals
While the overall economy is picking up, Saudis are feeling the pinch from subsidy cuts
Saudi Arabia's long-term goal is, to quote Crown Prince Mohammed bin Salman, to end the country's addiction to oil. This is the foundation stone supporting Vision 2030 and the 2020 targets set out in the kingdom's National Transformation Programme. But in the immediate future, oil—and in particular its global price—remains key. Saudi Arabia is leading efforts to encourage Opec and non-Opec producers to stick to their commitment to restrict oil output in order to support prices. It wasn't always easy. But the strategy has, in the end, been successful. According to the latest report from analyst and consultancy Capital Economics, "the impact of the 2016 Opec agreement to cut oil output has fad
Also in this section
21 February 2025
While large-scale planned LNG schemes in sub-Saharan Africa have faced fresh problems, FLNG projects are stepping into that space
20 February 2025
Greater social mobility means increased global demand for refined fuels and petrochemical products, with Asia leading the way in the expansion of refining capacity
19 February 2025
The EU would do well to ease its gas storage requirements to avoid heavy purchase costs this summer, with the targets having created market distortion while giving sellers a significant advantage over buyers
18 February 2025
Deliveries to China decline by around 1m b/d from move to curb crude exports to Shandong port, putting Iran under further economic pressure
