Economic updates
Our in-depth, independent reports cover the macroeconomic environment, the Saudi government’s annual budget, and Saudi Arabia’s monetary and financial developments, labor market, and inflation.
Feature: Economy hit by family business problems
The recovery of the Kingdoms economy has been set back by problems at one prominent local family business and an associated businessman. In addition to these two groups it seems that several other family groups are stressed financially.
Quarterly Oil Market Update – Q3 2020: (Uncertainty ever present)
Oil market reportQ3 2020 oil demand rose by 8.4 million barrels per day (mbpd), or 10 percent, quarter-on-quarter, but was 9.5 mbpd (or 9 percent) lower than the same period last year. Looking ahead, whilst OPEC expects to see four out of five quarter-on-quarter rises in oil demand for now until Q4 2021, demand is still expected to be 3 percent lower than pre-COVID-19 levels by the end of 2021.
Quarterly Oil Market Update – Q4 2020: (The only way is up?)
Oil market reportThe recovery in global oil demand continued through the last three months of 2020, with OPEC reporting rises of 3 percent quarter-on-quarter in Q4 2020. Looking ahead, oil demand will continue rising in Q1 and during the rest of the year on a quarterly basis, but still end up 3 percent lower than pre-COVID-19 levels by the end of 2021.
Oil Market Update – Q1 2021: (Small bump on the road to recovery)
Macroeconomic reportThe recovery in global oil demand reversed course during the first quarter of 2021, with OPECs monthly oil market report showing declines of 780 thousand barrels per day (tbpd) or -0.8 percent quarter-on-quarter in Q1. Looking ahead, according to OPEC forecasts, oil demand will resume rising on a quarterly basis during the rest of the year, but still end up 3.5 percent lower than pre-Covid-19 levels by the end of 2021.
