The kingdom needs an oil price of $84 to balance this year’s budget
Brent crude averaged $64.12 a barrel in 2019 compared with $71.67 the previous year
It puts Aramco supply above its maximum sustainable capacity, indicating that the kingdom is even tapping its strategic inventories
On Friday, oil prices plunged the most since 2008 on signs of a breakdown in the global OPEC+ alliance that helped underpin crude’s recovery since 2014
Bahrain, where oil and gas are also central to the economy, wants to balance its budget by 2022
The highest ranked Arabs originating from Saudi Arabia in Gulf Business’ annual Arab power list
In August, Reliance valued its oil-to-chemicals division at $75bn including debt, implying a $15bn valuation for a 20 per cent stake
The oil giant raised $29.4bn in the world’s biggest-ever initial public offering, selling shares at 32 riyals each
Goldman Sachs Group, one of the underwriters of the deal, exercised the over-allotment option and increased the offering
On the second day of trading on Riyadh’s stock exchange, Saudi Aramco briefly soared past the target
Saudi Aramco is producing more than 9.9 million barrels a day of crude
A virus infected about 30,000 of the oil producer’s workstations in mid-August, forcing the company to cut off external communications.
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