Saudi Arabia has an incredible opportunity to move away from its complete dependence on oil, but it will need to make a number of structural changes to ensure its plans are not derailed. The reality is that the Saudi economy, including the private non-oil related sector, is heavily dependent on …
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– Saudi Arabia’s quicker than expected output restoration sparks oil price fall Oil prices declined contrary to expectations due to the quicker than expected restoration of Saudi Arabia’s output, the contained global response to the drone attacks on Saudi Aramco’s facilities, and greater output from other supplier countries like Qatar, …
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In recent years, Saudi Arabia has had a comprehensive plan to reduce the share of oil in the economy, and it is seeking to increase the share of both renewable energy and natural gas in electricity production for export. It is also investing in high value-added products to reduce dependence …
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