*Preliminary government data has provided a window into the economic impact that the Middle East conflict is having on Saudi Arabia. The economy contracted by 4.8% last quarter, the largest quarterly decline since 2Q 2020.
*The sharp decline was driven by a historic 24.7% drop in oil-sector activity, far outstripping the previous recent low of -16.2% in 4Q 2023 when the kingdom was implementing steep voluntary production cuts. (CONTINUED - 165 WORDS)
