Economy News Saudi Arabia’s Oil Production Cuts Have Tipped Its Economy Into Reverse

Saudi Arabia cuts December oil prices for Asia as OPEC+ boosts output

Saudi Arabia, the world's top oil exporter, has sharply reduced the prices of its crude for Asian buyers in December, responding to a well-supplied market as OPEC+ producers ramp up production. Read More

Saudi Arabia Cuts December Oil Price for Asia in Sign of Caution

The price is seen as a key indicator of the kingdom’s outlook on regional demand and the move follows OPEC+ pausing output increases for early next year. Read More

Crude Oil Prices Slip as Saudi Aramco Cuts Prices

December WTI crude oil (CLZ25) on Thursday closed down -0.17 (-0.29%), and December RBOB gasoline (RBZ25) closed up +0.0563 (+2.95%). Crude oil and gasoline prices settled mixed on Thursday, with ... Read More

Saudi Arabia's economy grew 5% in third quarter, government estimates

Saudi Arabia's economy grew 5% in the third quarter from a year earlier, according to flash government estimates released on Thursday, with oil-related growth surging as output ramps up. Read More

IMF Ups Saudi Arabia's 2025 GDP Growth Forecast to 4% as Oil Output Rises

DUBAI (Reuters) -The International Monetary Fund upgraded its 2025 economic growth forecast for Saudi Arabia on Tuesday due to a faster-than-expected unwinding of oil production cuts in the world's ... Read More

OPEC Plus Agrees to Small Boost in Oil Production

Saudi Arabia, the de facto leader of the oil cartel, sees advantages in increasing output despite market risks. By Stanley Reed Reporting from London Eight members of the OPEC Plus oil producers group ... Read More

OPEC+ Nears Its Limit, Leaving Prices One Crisis Away from a Spike

OPEC+ spare capacity is shrinking fast, with only Saudi Arabia, the UAE, and Iraq holding meaningful extra production capability. Analysts warn that actual spare capacity may be overstated. As OPEC+ ... Read More