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.
Oil Market Update - Q4 2023: (Oil prices buoyed by geo-political risk)
Oil market reportOil prices have moved higher in response to the war between Israel and Hamas. Traders are concerned that the violence could intensify and spread, possibly pulling in state actors and threatening oil supply. We think these fears are overdone, but appreciate that miscalculation or over-reach by one or more of the parties involved could see containment unravel very quickly. If prices were to push durably above $100 per barrel this could tip the global economy into recession.
Inflation Update - September 2023: (Easing price pressures)
Inflation reportThe General Authority for Statistics’ (GaStat) inflation release for August shows that consumer prices rose by just 2 percent year-on-year, representing the weakest price rise in 18 months.
