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Saudi Arabia’s Public Investment Fund (PIF) bought shares in Alphabet, Zoom Video, and Microsoft this week as part of a wider pick of U.S. stocks, bringing the market value of the sovereign wealth fund's investment portfolio to about $40.8 billion at the end of the second quarter, Reuters reports.

According to a report in Reuters, OPEC+ production leaders Saudi Arabia and the United Arab Emirates stand ready to deliver a "significant increase" in oil output "should the world face a severe supply crisis this winter," sources familiar with the thinking of the top Gulf exporters told Reuters.

Saudi Arabia and the OPEC+ group of oil-producing countries agreed to a small increase in oil production on Wednesday by 100,00bpd after the U.S. and other consuming nations called for more crude in the market, according to reports.

Saudi Arabia’s Crown Prince Mohammed bin Salman arrives in Greece today for talks with its premier, Kyriakos Mitsotakis, marking his first trip to a European Union nation since 2018.

Saudi Arabia recorded 9.5% increase year on year in foreign direct investment (FDI) flows during the first three months of 2022, Saudi Arabia's Ministry of Investment (MISA) said on Twitter on Tuesday.