Tag: Saudi Arabia

President Donald Trump on Tuesday praised Saudi Arabia and its leaders after the White House announced a commitment by the kingdom to invest $600 billion in a series of deals with the U.S.

Top oil exporter Saudi Arabia cut prices for all crude grades it sells to Asian customers for a second month in a row in August amid robust supply from countries outside OPEC and uncertainties over the demand outlook.

Saudi Arabia’s fourth-quarter real GDP fell 3.7% year-on-year, according to government flash updates.

Saudi Arabia announced a 30-year tax exemption package for foreign companies establishing their regional headquarters in the kingdom.

Oil rose on Monday after top exporters Saudi Arabia and Russia announced supply cuts for August, overshadowing concern over a global economic slowdown and the potential for further increases to U.S. interest rates.

Oil prices rose following OPEC kingpin Saudi Arabia’s decision to cut production by another million barrels per day.