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Down, But Not Out: How Saudi Arabia Will Avert an Oil Economy Collapse

The September 11 collapse of a crane at the Grand Mosque in Mecca provided a grave metaphor for Saudi Arabia experts.

Fahad Nazer
Down, But Not Out: How Saudi Arabia Will Avert an Oil Economy Collapse
H.E. Engr. Ali Ibrahim Al-Naimi, Minister of Petroleum and Mineral Resources, Saudi Arabia.

The September 11 collapse of a crane at the Grand Mosque in Mecca provided a grave metaphor for Saudi Arabia experts. A number of observers, citing supposed infighting among senior Saudi royals, have predicted an unprecedented political upheaval. Other critics however, have focused on the precipitous drop in oil prices since June 2014 to argue that the kingdom is in serious economic trouble. Indeed, the decline in oil prices from about $115 to below $45 today seems the more daunting challenge.

Read the full article on Foreign Affairs.

 

 

Fahad Nazer

is a former non-resident fellow at the Arab Gulf States Institute in Washington as well as a political analyst with intelligence consultants JTG, Inc., where he focuses on political, social, and economic developments in Saudi Arabia.

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