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Saudi Arabia

Why most of the world still uses the U.S. dollar to buy and sell oil

by Sabri Ben-Achour
Jun 25, 2024
The scale, liquidity and stability of U.S. financial markets are partly behind the phenomenon.
Safe, liquid markets in the United States is a key reason most countries buy oil — and many other commodities — with dollars.
Frederic J. Brown/AFP via Getty Images
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What’s "Davos in the Desert" and why does it matter

by David Brancaccio and Erika Soderstrom
Oct 24, 2023
We take a look at why financiers have flocked to Riyadh for face time with the crown prince.
The annual event informally known as “Davos in the Desert” is used "as an opportunity to pitch Saudi Arabia as a destination for investment," explained the BBC's Sameer Hashmi.
Giuseppe Cacace/AFP via Getty Images
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Senators to ask PGA Tour execs why they pivoted from slamming rival LIV to merging with it

by Henry Epp
Jul 11, 2023
The answer involves Saudi Arabian billions pouring into sports to buff up the kingdom's reputation.
Major state investment in a sport to call attention away from a record of human rights abuses is called sportswashing, says Wharton professor Kenneth Shropshire.
Adrian Dennis/AFP via Getty Images
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To stay atop the oil market, OPEC became OPEC+. But keeping the cartel in sync isn't easy.

by Lily Jamali
Jun 28, 2023
The Saudis invited the Russians to the table and rolled out the red carpet. But the Russians haven't always done what the Saudis want.
OPEC and OPEC+ members break their oil production promises all the time, said Victor McFarland at the University of Missouri.
Joe Klamar/AFP via Getty Images
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Saudis cut oil production — but that might not lead to higher gas prices

by Mitchell Hartman
Jun 5, 2023
Cutting production usually leads to an increase in prices. Here's why that might not be the case this time.
Stefani Reynolds/AFP via Getty Images
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The Saudis are buying up Russian diesel — and selling more of the stuff they produce themselves

by Lily Jamali
May 30, 2023
The kingdom's actions are not a violation of sanctions.
Saudi Arabia is now buying roughly180,000 barrels of Russian diesel every day. Above, a refinery in Moscow.
Natalia Kolesnikova/AFP via Getty Images
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Saudis are trying to prop up oil prices by lashing out at short sellers

by Lily Jamali
May 24, 2023
And if it doesn't work, they'll cut production.
An aerial view of an oil facility in eastern Saudi Arabia. The country is the de facto leader of OPEC+.
Giuseppe Cacace/AFP via Getty Images
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What investors need to see in Saudi Aramco's IPO prospectus

by Justin Ho
Oct 18, 2019
The state-run oil giant is notoriously opaque. But as it moves forward with going public, prospective investors have been demanding details about how the company is run.
Amin Nasser, CEO of Saudi state oil company Aramco, speaks at the 24th World Energy Congress in Abu Dhabi in September.
Karim Sahib/AFP/Getty Images
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IEA releases new oil market numbers amid demand concerns

by Scott Tong
Oct 11, 2019
Demand for oil is growing, but barely; it's at the lowest rate in a decade.
KAREN BLEIER/AFP/Getty Images
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Saudi Arabia announces new chapter in diversifying economy away from oil: tourist visas

by Scott Tong
Sep 27, 2019
For the first time, the conservative kingdom is opening up to tourists from more than 40 countries.
A view of Riyadh, the Saudi capital, in 2007.
Hassan Ammar/AFP/Getty Images
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