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Saudi Arabia

DRIVER: Saudi Arabia could see some tumultuous economic policy changes provoked by the lower oil price era and the emerging challenge from renewable energies. It also faces threats from Middle East turmoil.

  • [New] Saudi Arabia and the Opec states have made it clear that they will not draw on their spare capacity to cover the lost Russian supply of oil, estimated at around one million barrels a day at the end of April. The Telegraph
  • [New] Saudia Arabia to Spend $1 Trillion Over a Decade to Build a Global Tourism Economy: With a goal to attract 100 million tourists a year by 2030, Saudi Arabia realizes that it will have to promote itself aggressively as a leisure destination. Skift
  • [New] Beyond energy, Saudi Arabia has made a concerted push to diversify its exports and investment potential in tourism and other non-oil areas. Franklin Templeton Investments
  • [New] Saudi Arabia, Russia and other key oil producers agreed on Thursday to another marginal increase in output, bolstered by risks to demand amid coronavirus restrictions in China. 24 News HD
  • [New] Autocratic states that engage in domestic repression and international terrorism, scoff at a rules-based international order and pose an existential threat to democracy - China, Russia, Saudi Arabia, Iran and others that claim about one-third of GDP. The Washington Times
  • [New] Beyond energy, Saudi Arabia has made a big push to diversify its exports and investment potential with major sporting events, tourism, infrastructure and entertainment. Investment Adventures in Emerging Markets
  • [New] Turkey, Israel, Saudi Arabia, and other Gulf states have the potential to dramatically destabilize Iraq through their responses to Iranian activities there. Institute for the Study of War
  • [New] The evolving open banking environment in Saudi Arabia will be further fueled by the Kingdom's young and highly connected population. Entrepreneur Middle East
  • [New] Illustrating how the IRGC threatens Chinese equities, Houthi rebels in Yemen have been launching Iranian missiles and drones, wreaking havoc on China's arguably more important Comprehensive Strategic Partners: Saudi Arabia and the United Arab Emirates. Middle East Institute
  • [New] Saudi Arabia and the United Arab Emirates are two countries that could easily pump more if they chose to. Yahoo Finance
  • [New] Saudi Arabia and the UAE, traditional US allies and the only two OPEC members that have significant spare capacity, will only increase production when it is in their own financial interest. UKERC
  • [New] Last month, amid a surge in oil prices, the IMF revised its economic forecast for Saudi Arabia anticipating a 2.8% growth. Middle East Monitor
  • [New] As the relationship between longtime allies Saudi Arabia and the United States becomes increasingly strained, China could cultivate a stronger bond with the Middle Eastern kingdom. The Interpreter
  • [New] Israel's move towards Saudi Arabia and the other Gulf states has been boosted by Israel's campaign against the Iranian nuclear program, which also threatens the Gulf, as well as Iran's support for terrorist organizations throughout the Middle East including within Saudi Arabia and Bahrain. Globes
  • [New] Saudi Arabia and the United Arab Emirates, the only countries that could increase production enough to replace Russian oil, have announced that they will not do so. SEB Group
  • [New] Global petrostates, including Saudi Arabia and Russia, have increasingly woken up to the fact that oil will one day be replaced by renewable energy like solar. The Edge Markets
  • [New] Saudi Arabia and the UAE represent stability and reform in a region threatened by terrorism and Iran. The Washington Post
  • [New] Saudi Arabia set to deport more than 100,000 Ethiopian migrants: More than 100,000 Ethiopians are expected to be repatriated from Saudi Arabia over the next 11 months. ReliefWeb
  • [New] Saudi Arabia increasingly acknowledges in public what it has long understood in private: Tehran and its terror proxies - not Israel - represent the real threat to regional peace and security. FDD
  • [New] Like India, the Gulf states have announced ambitious targets for indigenous defence industrial development, with Saudi Arabia aiming to spend 50% of its military expenditure locally by 2030. Observer Research Foundation
  • Saudi Arabia's 1.2 million barrels a day of spare capacity is double that of the United Arab Emirates, the other Gulf nation that could help were it not also offended by Mr. Biden's inattention to its security. WSJ
  • With oil already at $100 a barrel, the U.S. and Saudi Arabia have reason to do everything possible to prevent the disruption of Saudi supply. WSJ

Last updated: 29 May 2022