Saudi Arabia’s Economy Shrinks 3.8% as Oil Output Falls

Saudi Arabia's economy has contracted by 3.8% as oil production drops, signaling a significant economic downturn amidst regional tensions. The decline highlights the country's heavy reliance on oil revenues, which are now under pressure due to both internal factors and the broader geopolitical strife in the Middle East. This economic shrinkage underscores the vulnerability of the region's largest economy to fluctuations in oil prices and regional conflicts, suggesting a challenging path ahead for Saudi leaders.