Saudi Arabia wants to boost crude oil prices and get rid of a supply glut

Saudi Arabia wants oil prices to rise to $60 in 2017

Saudi Arabia wants crude oil prices to rise to around $60 a barrel this year, five sources from OPEC countries and the oil industry said. This is the level ... Read More

Saudis expect 46% increase in oil revenue this year

Saudi Arabia has forecast its revenue from crude oil will significantly rise in 2017, as prices show a positive trend after the deal between OPEC, Russia and other producers ... Read More

Saudi Arabia’s 2017 budget may partly solve huge deficit problem

Saudi Arabia’s budget next year is likely to reveal the kingdom has managed to reduce its massive deficit faster than economists predicted. That may allow Riyadh to increase spending ... Read More

Saudi Arabia looks to bring in billions of foreign dollars

Saudi Arabia announced a string of reforms to its stock market that could attract billions of dollars of fresh foreign money and smooth sales of state assets as the ... Read More
russia oil

Russia calls Saudi bluff after Riyadh threatens to spice up oil output

The Russian Power Ministry says it’s prepared to extend oil manufacturing and exports ought to Saudi Arabia undergo with its menace to spice up output after the failure of ... Read More

Saudi $10 Billion Financial District Is Missing One Thing: Banks

Saudi Arabia’s $10 billion financial hub in Riyadh will have gleaming towers connected by sky bridges, cutting-edge climate technology and a monorail that can circle the whole area in ... Read More

Oil crisis? Here is how Saudi Arabia plans to shake up its economy

In late February, several hundred Saudi officials, company executives and foreign consultants gathered in a luxury Riyadh hotel to discuss how Saudi Arabia’s economy could survive an era of ... Read More

Saudi Arabia seeks $8bn loan to plug fiscal deficit caused by low oil prices

Saudi Arabia is looking to raise as much as $8bn (£5.6bn; €7.3bn) from international lenders to help plug a record budget deficit caused by low oil prices. Citing sources, ... Read More

Saudi Arabia reveals cuts plan to shrink $98bn budget deficit

Sparked by plunging oil prices, the 2016 budget marks biggest shakeup in years and includes politically sensitive reforms Saudi Arabia has announced plans to cut government spending and reform its ... Read More
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