Saudi Arabia has unveiled spending cuts, subsidy reforms and a call for privatizations to rein in a deficit caused by low oil prices, the FT reports.
Kevin Adams, director of fixed income at Henderson Global Investors, says Saudi Arabia is likely to think about selling asset holdings including government bonds as part of its budget cuts.
The much-awaited Santa rally has evaded the market since the surge in stock prices in the first half of last week.
Richard Harris, chief executive of Port Shelter Investment Management, discusses whether Saudi Arabia's 2016 spending cuts are a sign of a larger problem.
Saudi Arabia's government ran a record budget deficit of $97.9 billion in 2015 because of low oil prices.
Investment firm leads a group to invest $247.7M in the company
Saudi Arabia's Kingdom Holding said on Thursday that it had led a group of investors that bought 5.3 percent of U.S. ride-hailing firm Lyft.
Saudi air defense systems intercepted a ballistic missile fired from Yemen.
Saudi air defense systems shot down a missile fired from Yemen, which the Yemeni army said it had aimed at oil installations in the south.
With resources stretched to their limits and political pressure building in the West, will Gulf countries help absorb migrants?
Discussing the dynamics of oil production, what's weighing on prices and the increase in shale oil, with Hess Corp. CEO John Hess.
If history is any guide, the price of oil can still go down before it recovers, says Robert McNally.
The end of the ban on crude exports should have little immediate impact on the U.S. oil industry, but longer term it should give the U.S. more clout.
Saudi Prince Alwaleed bin Talal weighs in on the American presidential race and specifically Donald Trump, saying he's a disgrace and should withdraw because he will never win.
Texas tax law could muddy U.S. oil inventory data through year end, but the oil glut is not going away and is now showing up in an oversupply of diesel and other fuels.
One of the biggest factors in oil markets next year will be the impact of capital spending cuts on crude production, Tom Petrie said.
The blend of macro forces driving commodities lower makes it unlikely the sector will recover for months to come.
As the oil slide continues, expert forecasts influences and a possible black swan event that could change the oil market next year.
OPEC's decision to leave its oil production quota unchanged is hammering oil markets, but some experts are skeptical about even lower prices.
Saudi Arabia has limited FX reserves to defend its currency peg to the dollar, says Nicholas Ferres, investment director of global asset allocation at Eastspring Investments.