Saudi Arabia

DRIVER: Saudi Arabia could see some tumultuous economic policy changes provoked by the lower oil price era and the emerging challenge from renewable energies. It also faces threats from Middle East turmoil.

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• [New] Qatar, the world's largest liquefied natural gas producer will have to adapt its strategy now that its state-owned natural gas carriers are banned from using bunkering locations in Saudi Arabia or the United Arab Emirates.
• [New] Terrorism poses just as much of a threat to Qatar as it does to Saudi Arabia, the UAE and every other nation.
• Trump will announce a new US arms package for Saudi Arabia valued around $100bn in Riyadh.
• Siding with Saudi Arabia and antagonising Iran in order to weaken jihadism will not work.
• Saudi Arabia and other Gulf monarchies see the Muslim Brotherhood as a threat.
• Iran maybe attacked now by ISIS on its very soil or threatened by Saudi Arabia or Israel but the challenges from within are much greater.
• Saudi Arabia has disclosed that its state-owned companies worth $200 billion will be privatized in the next few years.
• The very survival of Saudi Arabia is at risk given that the International Energy Agency estimates no more than one-third of proven global reserves of fossil fuels can be burned if the planet is to stay within the Paris Agreement's limits.
• Saudi Arabia would cut supplies to the region as OPEC battles against rising U.S. output that is threatening to derail its attempts to end a sustained global glut in crude.
• Iran accuses Saudi Arabia of spreading an intolerant creed that fuels terrorism and threatens minorities.
• More than 70 ready-mix concrete plants are expected to close next year due to the recession currently experienced by the construction sector in Saudi Arabia.
• The youth unemployment rate in Saudi Arabia is at nearly 30 percent and expected to increase in the coming years.
• Crude supplies to Japan from its biggest supplier Saudi Arabia will not be impacted by last year's agreement between OPEC and non - OPEC countries to cut output.
• U.S. production has jumped almost 10 percent since mid-2016 to 9.25 million bpd C-OUT-T-EIA, close to the world's top two producers, Saudi Arabia and Russia.
• Saudi Arabia, Russia, Iraq and other countries with low cash cost of production will maintain relatively high production levels.
• In two years, the US will generate more barrels of oil in a year than Saudi Arabia (10,608 vs. 10,051 thousands of barrels per day).
• Saudi Arabia will have to use all of its power and international influence to get a grip on volatile oil markets.
• Turkey, Iran, and Saudi Arabia will be locked competing to change the balance of power in Northern Iraq.
• The percentage of renewable energy by 2023 will represent 10 percent of the total electricity of Saudi Arabia.
• Diplomatic and economic relations with Saudi Arabia will decline further in 2017 as Egypt reassesses its domestic security requirements under its weak financial position.
• Saudi Arabia will develop 30 solar and wind projects over the next 10 years as part of the kingdom's $50 billion program to boost power generation and cut its oil consumption.
• Russia, China, US, and Saudi Arabia are the top four among the key investing regions on ammunitions.
• Saudi Arabia will not boost output to its full 12.5 million barrel-a-day capacity and flood the market.

Last updated: 25 June 2017