Saudi Arabia finding it hard to prop up oil prices

New: Gift this subscriber-only story to your friends and family

Oil prices have rallied this week, allaying immediate fears among key energy producers.

Still, the anxiety in Saudi Arabia, the world's No. 1 oil exporter and the country with the largest amount of oil reserves, is set to continue. The nation not only faces a longer-term challenge to its economy from falling oil prices, but also has to contend with a rapidly deteriorating security situation in the region. None of the strategic choices facing the kingdom is likely to be easy.

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and straitstimes.com

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Join ST's Telegram channel and get the latest breaking news delivered to you.

A version of this article appeared in the print edition of The Straits Times on August 15, 2019, with the headline Saudi Arabia finding it hard to prop up oil prices. Subscribe