Higher Oil Prices Could Threaten Saudi Vision 2030

9 Oct 2017   Saudi Arabia

Saudi’s headlines keep rolling in. Saudi Arabia is deepening its ties with Russia, with billions of investments planned for the future. Saudi Arabia is going to allow women to drive. Saudi Arabia booked a second quarterly GDP contraction in a row, with non-oil revenues particularly worrying. Saudi Arabia is also going ahead with the Aramco listing in the second half of 2017, despite reports of a possible delay. The Kingdom has certainly been making a lot of headlines recently and so have analysts from various institutions, either praising the effect that the OPEC/Russia oil output cut agreement is having on prices, or warning the cartel and its de facto leader that they should change their strategy. Now a new warning has come from the global head of sovereign ratings at Fitch, James McCormack. When countries “kick-start reform programs when oil prices are low, sometimes the enthusiasm wanes when commodity […]

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