The 2014 oil price crash together with the high spending of the last several years have been draining the Saudi government budget.
Uzbekistan 28 July 14:46
Uzbekistan’s Foreign Minister Abdulaziz Kamilov and his Saudi Arabian counterpart Adel bin Ahmed Al-Jubeir held negotiations, during which the sides discussed topical issues of bilateral relations within the visit of Uzbek delegation to Jeddah.
Oil&Gas 22 July 09:48
The situation on the oil markets is nearing a point beyond which the Saudis can no longer sit on their hands and eat into their depleting cash reserves,
Oil&Gas 21 July 18:09
Oil&Gas 21 July 13:26
While there is a need for oil prices to return to nearer $100 a barrel in order to make oil projects economic, director of Downstream Consulting at IHS Markit Spencer Welch believe no significant growth will occur in the short term period.
Oil&Gas 20 July 18:03
Oil&Gas 19 July 18:20
Arab World 5 July 03:16
Saudi Arabia's Interior Ministry says four security officers were killed and five others were wounded when a suicide bomber detonated his vest outside one of Islam's holiest sites
Oil&Gas 21 June 13:57
Arab World 18 June 05:10
President Barack Obama met Saudi deputy crown Prince Mohammed Bin Salman on Friday at the White House to discuss the turmoil in the Middle East.