Having started an oil price war in March 2020 By increasing supply, at a time when demand was crashing, this inevitably led to an oil price crash. In doing so, Saudi Arabia has encountered a bit of a problem… an oil price below the magic $76 threshold required for the Kingdom to balance its state budget.
Tuesday, 29 June 2021
Saudi Arabian Economy: Economic Crisis?
Oct 18, 2020 • The Economy of Saudi Arabia is a great example of what happens when you fail to adjust your economy quickly enough to shifting economic sands.
Having started an oil price war in March 2020 By increasing supply, at a time when demand was crashing, this inevitably led to an oil price crash. In doing so, Saudi Arabia has encountered a bit of a problem… an oil price below the magic $76 threshold required for the Kingdom to balance its state budget.
Having started an oil price war in March 2020 By increasing supply, at a time when demand was crashing, this inevitably led to an oil price crash. In doing so, Saudi Arabia has encountered a bit of a problem… an oil price below the magic $76 threshold required for the Kingdom to balance its state budget.
