✉news BusinessEconomy first seen 3 d ago, last 3 d ago, peak #28
Saudi economy contracts 3.8% as war hits oil output
Original: Saudi Arabia’s economy contracts 3.8% as war disrupts oil production
Saudi Arabia's economy shrank 3.8% as conflict-related disruptions hit the kingdom's oil production, a key pillar of government revenue. The contraction marks a significant blow to the largest Arab economy, which had been banking on hydrocarbon exports to fund ambitious diversification projects. Analysts are watching whether Riyadh can stabilise output and cushion the fiscal impact of the war.
Why now: A sharp economic contraction in the world's leading oil exporter has direct implications for global energy markets and prices.
Evidence
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