KAPSARC Report: The $200 Billion Annual Value of OPEC’s Spare Capacity to the Global Economy

Saudi Arabia’s energy minister Khalid Al Falih announced on Tuesday plans to develop the country's gas resources and extending a grid to UAE, Oman and Kuwait.
A recent peer-reviewed report by the King Abdullah Petroleum Studies and Research Center (KAPSARC) finds that OPEC’s spare capacity reduces oil price volatility and generates between $170 and $200 billion of annual economic benefits for the global economy.

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Oil Exports

Saudis Pump More Oil for Trump, Then Doubt If It’s Needed

the Saudis are struggling to sell as much extra oil as they’d hoped, and are privately fretting that they may have opened the taps too ...


Aramco-Sabic Deal

The Curious Case Of One Saudi Industrial Giant Buying Another

Saudi Aramco already has a burgeoning petrochemicals unit of its own , but it has never competed directly with SABIC. ...



Independent joins Saudi group to launch Middle East websites

The joint partnership will see four Independent-branded sites launched in Arabic, Urdu, Turkish and Persian by the end of 2018. ...


Hajj 2018

Saudi Hajj Ministry issues new web link for Qatari pilgrims after Doha blocking

The Saudi Ministry of Hajj and Umrah announced that is has allocated a new website link to receive the requests of Qataris who wish to ...



Saudi Arabia signs deal for 5 Spanish-built warships

Saudi Arabian Military Industries says it has signed a deal with Spanish state-owned shipbuilder Navantia to establish a joint venture to supply five warships. ...


Tourism and Hospitality

Farasan Islands initiative launched to boost Saudi tourism

The Saudi Commission for Tourism and National Heritage (SCTH) has unveiled an initiative to develop the Farasan Islands in Jazan and turn them into a unique ...


Travel and Tourism

Airbnb looks to ‘exciting’ Saudi Arabian market

Airbnb is eyeing up Saudi Arabia for its next emerging market as the multibillion-dollar start-up gains traction in the Middle East ...


Vision 2030

Podcast: Saudi Arabia’s Road to Vision 2030

we discuss Saudi Arabia’s ambitious Vision 2030 plan, the motivations for reform and the challenges ahead with Stratfor Vice President of Global Analysis Reva Goujon, ...


Saudi Women Drivers

Wheels of change turn quickly for Saudi women now permitted to drive

Inside the official Saudi Driving School, there was a flurry of activity and excitement. ...



The $200 billion annual value of OPEC’s spare capacity to the global economy

Rising international oil prices and increased geopolitical uncertainty have put OPEC’s spare production capacity back into the spotlight.  KAPSARC’s recent peer-reviewed collaborative study in the ...


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Regional and related topics


Chinese president meets top leaders in 1st visit to UAE

Chinese President Xi Jinping is in the United Arab Emirates meeting with top leaders as the two countries seek to deepen economic ties. ...


Syria Civil War

Top U.S. Middle East General Says ‘No New Guidance’ On Syria After Trump’s Meeting With Putin

After their private meeting, Trump and Russian President Vladimir Putin spoke vaguely about their discussions surrounding Syria. The leaders suggested that they agreed to align their ...



Israeli Law Declares the Country the ‘Nation-State of the Jewish People’

Prime Minister Benjamin Netanyahu of Israel has long demanded that the Palestinians acknowledge his country’s existence as the “nation-state of the Jewish people.” On Thursday, ...



The museums aiming to revive Lebanon’s reputation as a thriving arts hub

In recent years, due in part to economic woes, political turbulence and a dearth of state funding in the arts, Lebanon has struggled to keep ...



Egypt sarcophagus: Here’s what was found in a mysterious ancient tomb

When Egyptian archaeologists opened an ancient sarcophagus dating back 2,000 years, they found three skeletons and a lot of red, liquid sewage, the country's antiquities ...



Why Turkey Is Heading for Economic Meltdown Under Erdogan

It is too reliant on consumer spending and government-sponsored infrastructure and construction projects funded by speculative financial flows rather than on sustained private investment and ...


Yemen Civil War

Houthis, Yemeni Government Mull UN Plan for Hodeidah

The potential for a breakthrough in the Yemen war, now in its fourth year, may be close at hand. Last week, Martin Griffiths, the new ...



Schlumberger and Baker Hughes Cruise Oil Exploration ‘Upcycle’

Schlumberger Ltd., the world’s biggest oilfield services company, and No. 3 Baker Hughes have their sights set in different directions as they move into the ...


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