Will The World’s Largest Oil Company Cut Its Dividend?

It is becoming increasingly clear that the ongoing oil demand destruction, COVID-19 lockdowns and financial crisis are going to significantly impact Saudi Arabia. In a dramatic appearance, Saudi Minister of Finance, Mohammed Al Jadaan, stated that the Kingdom is going to take any measures necessary to counter the effects of the ongoing crisis. The Saudi government is going to take fiscal consolidation measures, remove subsidies and increase taxes and government fees. All of these measures are going to hit government spending and the country’s…