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: Q4 results highlight impact of global turmoil
Fourth quarter earnings of companies listed on the Saudi stock market clearly illustrate that the global financial crisis and ensuing recession has had an immediate impact
Feature: Oil in retreat
Oil market reportOil prices slumped over the past month, as the cumulative effect of slowing demand growth and greater supply made the continued run up in oil prices unsustainable. Despite this fall, oil prices of over $100 per barrel are exceptionally positive for the economic outlook for Saudi Arabia.
Jadwa Co-Investment Fund (Saudi Lube Oil)
Oil market reportThis Fund enables its unit holders to obtain a beneficial ownership interest in equity of Saudi Aramco Lubricating Oil Refining Company (LubeRef.) LubeRef is the dominant base oils manufacturer in the GCC. The company produces more than 1 million metric tons of base lube oils, asphalt, naphtha and other products at its refineries in Jeddah and Yanbu. The fast-growing Saudi market represents 60 percent of its sales. Unit holders of the Fund receive pro-rata dividends distributed by LubeRef and expect to benefit from an eventual exit by way of IPO or sale to a third party. This is a closed-end fund already closed in 2007 and appears here for record only.
Feature: Falling dollar lifts oil price comfort zone.
Oil prices have jumped to two-year highs primarily because of the weakness of the US dollar. Seemingly in response to this dollar depreciation, the Kingdom appears to have lifted the ceiling on its preferred level for oil prices.
Feature: Oil's surge: what's behind it and what it means for Saudi Arabia
Oil market reportOil prices have hit a series of all-time highs and have the momentum to go up further, even though we think they are now well beyond the level justified by the fundamentals. Saudi Arabia's economic performance will continue to benefit from high oil prices.
