Saudi Economic Outlook Sours After Oil Price Crash

Saudi Arabia’s economic outlook for this year remains uncertain amid the pandemic-driven economic slowdown and the collapse in oil prices that led to the Kingdom slashing its oil production as part of the new OPEC+ pact. According to the governor of the Saudi Arabian Monetary Authority (SAMA), Ahmed al-Kholifey, the world’s top oil exporter is financially stable, but this year’s crisis has led to an uncertain economic outlook for 2020. “For us, in our situation, the cut in oil production and the impact of the virus, they…