The challenging oil market environment, compounded by the broader impact of demand evisceration caused by COVID-19, has dented Saudi Arabia's performance in the first half of 2020. What does this signal going forward?
Ehsan Khoman, Head of MENA Research and Strategy, is confident in the country's capacity to weather the losses and forecasts activity to stabilise in the second half of 2020. He believes that Saudi Arabia has proved effective in utilising its large accumulation of wealth to offset the impact of lower oil revenues, drawing down savings and leveraging its balance sheet to navigate the oil-virus shocks.
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