Saudi Arabia Cuts Budget as Oil Prices Drain Coffers ; Finance Ministry Shaves Spending and Subsidies for Fuel, Water and PowerThe official Saudi media reported that the Finance Ministry wouldcut spending, adopt new taxes...Gladstone, Rick
Saudi Arabia, the world’s top oil exporter, is the third biggest crude producer after the United States and Russia. Falih said Saudi oil remains among the cheapest in the world to extract, at only $4 a barrel. But the kingdom has posted budget shortfalls each year since a major 2014 ...
Saudi Arabia's oil minister dismissed the possibility Tuesday that major oil-producing countries will cut production to stabilize slumping crude prices. Anagreement between OPEC and non-OPEC countries to freeze production, however, still remains on the table. "A freeze is the beginning of a proces...
and has been successfully issuing bonds,tapping debt markets for $12 billion so far this year. Oil revenue should increase in 2025 when the OPEC+ production cuts, the majority of which were taken by Saudi Arabia, expire, according to energy analysts. ...
RIYADH: Saudi Arabia is focused on achieving high-quality growth through sustainable non-oil activities, aiming to boost private sector dynamism and productivity, while ensuring continued economic progress that goes beyond short-term expenditures, a mini
While it is true that Saudi Arabia needs an oil price of $70 and higher for the success of its IPO of Saudi Aramco, it is my considered view that the Saudis are slowly but surely moving away from the IPO. Their own estimation is that the IPO will net them some $100 bn. But the...
Saudi Arabia's planned cuts inspending and energy subsidiessignal that the world's largest crude exporter is bracing for a pro- longed period of low oil pr... B Sharples 被引量: 0发表: 0年 Oil up as gas reserves leap. Reports the increase in crude oil reserves in the U.S. as of ...
as oil production rebounds and the government completes spending cuts. The Saudi economy is forecast to expand by 3.2% next year. Fiscal austerity will continue to weigh on future growth, however, as will further cuts in price subsidies and restraint over government hiring and pay. GDP is expec...
As the 19th biggest economy on the planet and the largest in the Arab world – accounting for around half the $1.6trn represented by the GCC, according to Tadawul data – Saudi Arabia is already a global behemoth. Tumbling oil prices and subsequent OPEC cuts in oil production this year, ho...
Saudi Arabia brought in the 5 percent VAT charge as well as cuts to fuel and electricity subsidies last month in an effort to balance its budget and decrease its dependency on oil revenues. Analysts said the impact of the VAT charge on inflation will be relatively short-term. ...