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Report: Saudi Oil Minister Khalid Al-Falih Met With Top Commodity Hedge Funds
Saudi Arabia’s Minister of Energy, Industry and Mineral Resources Khalid Al-Falih met in private with some of the world’s top commodity hedge funds in July, a break from tradition in order to gather investor views on the state of the market, Bloomberg reports. In the past Saudi Arabian officials have criticized the role of speculators and hedge funds in […]
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OPEC Discipline Partly to Blame for Oversupply, but Saudi Leadership May Boost Prices
Jadwa Investment’s recently released quarterly oil market update for Q2 2017 questions if discipline within OPEC is waning as oil’s price continues to stay low on international indices as high supply persists, but recent moves by Saudi Arabia in Russia this week indicate action is forthcoming to curb supply. Oil prices declined by 8 percent […]
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U.S. Removes Laptop Ban on Flights from Jeddah, Saudi Arabia; Riyadh to be Inspected by U.S. Officials ‘This Week’
The Trump administration on Monday lifted the ban on carrying laptops onboard Saudia Airlines, the last airline facing in-flight restrictions on electronics, a TSA spokesman has said. The removal only affects passengers on Saudia flying out of the airline’s hub in Jeddah, Saudi Arabia. US government officials will visit Riyadh’s King Khalid International Airport “later this […]
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CNN Publishes 2013 ‘Secret Agreements’ Between Gulf States Barring Support for Opposition and Hostile Groups
CNN has exclusively published documents showing that Qatar made a series of secret agreements with its Gulf neighbors in 2013 and 2014 barring support for opposition and hostile groups in those nations, as well as in Egypt and Yemen. The agreements themselves were not secret, but until now the exact wording in the documents was […]
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Saudi Aramco Releases 2016 Annual Review
Last week, Saudi Aramco released its annual review for 2016, a detailed overview of Saudi Arabia’s upstream and downstream energy operations, national strategy, and international activities and investments. The Annual Review for 2016, which is released halfway through the following year, takes on special significance as the Kingdom embarks on its Vision 2030 economic and social […]
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Blockade of Qatar Continues as Response to Demands Viewed as ‘Negative’
The foreign ministers of four Arab countries led by Saudi Arabia said they regretted Qatar’s “negative” response to their list of demands and said the blockade of the country would continue. Saudi Arabia, Egypt, Bahrain and the UAE severed ties with Qatar last month and Saudi Arabia has closed its airspace and land border with […]
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Foiled Mecca Mosque Attack Last Week Shows Urgency of Daesh Threat Inside the Kingdom
Last week’s foiled plot attempt to attack the Grand Mosque in Mecca indicates a growing Islamic State intent to mount mass-casualty attacks in Saudi Arabia, according to reports. A suspect in the planned attack on the mosque blew himself up in a nearby neighborhood when security forces surrounded a home where the man was hiding, […]
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Key U.S. Republican Senator Bob Corker Threatens to Hold Arms Sales to Saudi, UAE if Qatar Rift Not Fixed
The Republican chairman of the Senate Foreign Relations Committee, Senator Bob Corker (R-Tennessee) has threatened to withhold arms sales to Saudi Arabia and other Gulf nations until a diplomatic solution is found with neighboring Qatar. The standoff, which has lasted three weeks and has threatened the unity and economic strength of GCC nations, adds uncertainty to […]
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Saudi Arabia’s commitment to extended OPEC cuts ‘will result in oil production having negative effects on GDP’, Jadwa Says
A recent report on the Saudi economy by Riyadh-based Jadwa Investment finds that overall GDP growth will be 0.1 percent in 2017 (compared to 1.4 percent in 2016) due to a sharp decline in oil sector GDP, resulting from the Kingdom’s OPEC commitments to cut output. The projected figure is a revision from earlier forecasts […]
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‘Epicenter X: Saudi Contemporary Art’ Show Hits U.S. in July to Challenge Perceptions, Share Saudi Culture
A U.S. exhibition featuring the works of roughly 40 Saudi Arabian artists aims to “share their expressions, foster conversations and challenge conceptions of life” in Saudi Arabia, the Associated Press reports. The exhibition, entitled “Epicenter X: Saudi Contemporary Art,” opens July 8 and runs for about three months at the Arab American National Museum in […]
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MUST-READS
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Explainer: What is a global minimum tax and how could it affect companies, countries?
Major economies are aiming to discourage multinational companies from shifting profits - and tax revenues - to low-tax countries regardless of where their sales are made. Increasingly, income from intangible sources such as drug patents, software and royalties on intellectual property has migrated to these jurisdictions, allowing companies to avoid paying higher taxes in their traditional home countries.
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Can Parking Fees Influence People to Use the Metro Instead of Cars in Riyadh City?
In this commentary, we investigate the contexts in which car users located in five areas of Riyadh (south, north, east, west and central) would prefer to use transit for their trips. We focused on parking fees and car users because the car is the most used travel mode in Riyadh.
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Saudi Arabia′s new glitzy magazines: Progress or ′fashion-washing′?
"Fashion publishing has the potential to be a strong platform upon which to narrate the story of Saudi's homegrown fashion talents, and encourage cultural exchange," Princess Noura bint Faisal Al-Saud, a leading member of Saudi Arabia's fashion commission, said in a statement on the launch of the new magazines. The fashion commission is one of the 11 bodies that manage the growing Saudi cultural sector under the Culture Ministry's auspices.
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How Significant Is Greece’s Growing Military Cooperation With The UAE And Saudi Arabia?
In March, F-15 fighter jets of the Royal Saudi Air Force and their crew and supporting technicians arrived on the Greek island of Crete for the Eye of Falcon 1 exercises over the Mediterranean Sea.
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Can Saudi Arabia, the world’s second largest oil producer, become a global force tackling the climate crisis?
The expansion of Saudi’s climate action comes not a second too soon, both for global efforts and the country’s 34 million people, two-thirds of whom are under 35 and will bear the brunt of worsening impacts. The country faces serious risks from the worst of extreme heat. In the city of Al Ahsa, home to one of the world’s largest oases, the temperature hit 50C (122F) last July. Rapid desertification – where drylands are increasingly arid and sapped of biological productivity – is happening throughout the Arab peninsula.
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Amid Nuclear Standoff, Who’s In The Running To Take The Reins In Iran?
The presidential election follows last year's parliamentary vote, which resulted in an increase in the number of hard-liners in the legislature due to a historically low turnout as well the disqualification of thousands of more moderate hopefuls.
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‘Saudi’s got talent?’ Kingdom mulls entertainment academy
Saudi investment chiefs want to ensure more of the country's workforce is trained to work in the entertainment sector. The Kingdom’s General Entertainment Authority (GEA) has signed an initial agreement with the Council of Saudi Chambers (CSC) to boost the quality of human capital in the fledgling sector, the Saudi Press Agency reported.
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Perspective: After Khashoggi Report, Can Biden Really Shrug Off Saudi Arabia?
Foreign Policy spoke to David Rundell about what underpins the relationship between the United States and Saudi Arabia, what Biden and former President Donald Trump got right and wrong, and what bilateral ties will look like going forward. Rundell, a 30-year U.S. diplomatic veteran of the Middle East, spent 15 years in Saudi Arabia. He is the author of Vision or Mirage: Saudi Arabia at the Crossroads.
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How did OPEC respond to the pandemic?
The oil industry is no stranger to boom-bust cycles, but the pandemic has been its wildest ride to date, and on March 4 it’s due to take another turn when OPEC meets to consider rolling back production cuts.
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Commentary: What’s Behind the UAE’s “Shuffle” Diplomacy?
The diverging priorities of Abu Dhabi and Dubai have given the UAE room to maneuver, and, increasingly, elements of the two emirates’ specific approaches are being consolidated within a unified strategy.
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