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Riyadh's reshuffle at the PIF comes as the $360 billion fund looks set to dramatically increase domestic spending.

Saudi Arabia has been grappling with a budget deficit since oil prices first plunged in 2014.

Explosion rocks Singapore-flagged tanker off <em>Saudi</em> port

The New Arab Staff & Agencies

Explosion rocks Singapore-flagged tanker off Saudi port

The Singapore-flagged oil tanker BW Rhine was targeted in an attack off the Saudi port city of Jeddah on Monday.

Explosion strikes tanker off <em>Saudi</em> port: maritime sources

The New Arab Staff & Agencies

Explosion strikes tanker off Saudi port: maritime sources

An explosion struck a tanker off the Saudi port city of Jeddah, maritime sources said on Monday, without elaborating on the cause.

OPEC+ seeks compromise on output cut extension

The New Arab Staff

OPEC+ seeks compromise on output cut extension

Producers, including Saudi Arabia and Russia, disagree on whether to extend oil production cuts into next year.

The New Arab Staff

Houthis allege deadly attack on Saudi base in Yemen

Yemen's Houthi rebels on Sunday claimed that at least eight Saudi soldiers and officers were killed in an attack on a military camp in Marib.

The New Arab Staff

OPEC+ calls last-minute talks ahead of planned oil increase

Saudi Arabia and Russia called an informal meeting of OPEC+ ministers, which is likely to delay a planned oil production increase, just ...

The New Arab Staff

Houthi attack hasn't affected oil production, Aramco says

Monday's attack on Aramco has not affected oil production, the manager of the oil giant said.

The New Arab Staff & Agencies

Aramco says Houthi strike tore hole in oil tank

The energy giant took reporters to the distribution facility where damage to the tank was visible the day after the attack.

Houthis claim missile strike on <em>Saudi</em> <em>Aramco</em> facility

The New Arab Staff

Houthis claim missile strike on Saudi Aramco facility

A Google Maps search reveals an Aramco distribution center matching the one described by the Houthi spokesman in northern outskirts of ...

The New Arab Staff & Agencies

Saudis 'thwart attack on oil facility near Yemen'

Saudi Arabia said it intercepted an attack by the Houthi rebels that sparked a fire near an Aramco distribution centre.

<em>Saudi</em> <em>Aramco</em> 44.6 percent drop in third quarter profits

The New Arab Staff

Saudi Aramco 44.6 percent drop in third quarter profits

Saudi Aramco says it will distribute a $18.75 billion for the quarter.

As US vote looms, Gulf powers count Trump blessings

The New Arab Staff & Agencies

As US vote looms, Gulf powers count Trump blessings

Donald Trump's Middle Eastern policy has emboldened many Gulf Arab monarchies.

<em>Saudi</em>, Russia urge oil producers to adhere to limits

The New Arab Staff & Agencies

Saudi, Russia urge oil producers to adhere to limits

Saudi Crown Prince Mohammed bin Salman and President Vladimir Putin 'agreed on the importance of all oil-producing countries to ...

Global oil demand to recover by 2022: <em>Aramco</em>

The New Arab Staff & Agencies

Global oil demand to recover by 2022: Aramco

Aramco's chief executive predicted the crude oil market could recover to pre-coronavirus levels by 2022, however the International Energy Agency ...

The New Arab Staff

Prominent Saudi economist sentenced to 15-year imprisonment: report

Essam Al-Zamil, who once criticised plans to sell Saudi Arabia’s state-owned Aramco oil company, was sentenced to 15 years in prison, reports said.

The New Arab Staff

Saudi Arabia slams oil producers for flouting production cuts

Saudi Arabia is pushing for countries that have flouted the supply curb agreements to compensate with new limits.

Sabena Siddiqui

Could Saudi Arabia be parting ways with Pakistan?

Riyadh's passive stance on Kashmir has caused a rift with Pakistan as changing regional alliances threaten their strategic relationship.

The New Arab Staff & Agencies

Saudi Aramco chief sounds optimistic over oil demand rise

The head of Saudi Aramco said Monday he was optimistic that the global demand for oil was growing as the worst of the ...

Why the UAE seeks stronger ties with Iran

Jonathan Fenton-Harvey

Why the UAE seeks stronger ties with Iran

Comment: As the UAE moves out of Saudi Arabia's shadow, its developing ties with Iran are not as surprising as some might suggest, ...

The New Arab Staff & Agencies

Saudi Aramco profits dive 73% following oil price slump

Saudi Arabia's national oil company has announced a huge quarterly loss in profits, due to low oil prices and reduced demand

Yemen's Houthis down 'US spy drone' near <em>Saudi</em> border

The New Arab Staff

Yemen's Houthis down 'US spy drone' near Saudi border

A US spy drone was downed by Yemen's Houthis near the border with Saudi Arabia, the rebels said on Sunday.

<em>Saudi</em> officer arrested for patrolling Mecca streets on camel

The New Arab Staff

Saudi officer arrested for patrolling Mecca streets on camel

Saudi police were quick to arrest a security officer for patrolling the streets of Mecca on a camel, videos circulating online showed.

<em>Saudi</em> Arabia considering income tax and asset sales

The New Arab Staff

Saudi Arabia considering income tax and asset sales

Saudi Arabia has suffered from low oil prices and the coronavirus epidemic.

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