Economy & Finance

The Middle East’s largest economies have long sought to reduce their dangerous dependency on oil revenues, with Saudi Arabia’s high-profile Vision 2030 just the latest in a long list of such strategies. Even the region’s smaller economies have fallen into the trap of heavily subsidizing fuels and electricity, and are increasingly struggling with the financial impact.

Economics & Finance

27 Feb, 2026

Featured

Saudis Changing Trade Flows

China is by far Saudi Arabia’s largest export market, yet a surge in imports from China means Riyadh is now running a huge trade deficit with the Asian giant.
Saudi Arabia's Core Export Markets: The Value Of Exports To China Declined In 2025 ($bn)
Economics & Finance

6 Mar, 2026

Top Story

Freight Rates, Insurance Costs Balloon As Iran Closes Hormuz

Iranian strikes on vessels and energy assets around the Strait of Hormuz have effectively closed the waterway responsible for 20% of global oil flows and 18% of the world’s LNG exports. Bypass options are being put to the test.
Mideast Gulf VLCC Rates To Asia* Were Already At Multi-Year Highs Before The Iran War ($/B)
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NEWS IN BRIEF

Aramco Announces Share Buyback Plan

13 Mar, 2026

Progress At Key Saudi Gas Power Plant Projects

13 Mar, 2026

BP Confirms Egypt Offshore Awards

13 Mar, 2026

TotalEnergies Highlights Middle East Production Shut-Ins

13 Mar, 2026

Egypt Announces Sirius Offshore Drilling Success

13 Mar, 2026

Decision Time For Opec+

27 Feb, 2026

EOG Expects First Results From UAE, Bahrain Wells In Q2

27 Feb, 2026

BGC Boosts Gas Capture At Iraq Fields

27 Feb, 2026

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SELECTED DATA

Qatar Is On Track For Its First Annual Deficit Since 2020 ($bn)

Iraq’s Crude Oil Export Revenues Set To Drop By $11bn This Year As Falling Oil Prices Take Their Toll ($/B)

Saudi Arabia Budget Deficit Topped $30bn Last Year. Deficits Forecast To Stretch Out To At Least 2028

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