Saudi Economy Shrinks Most Since 2020 as War Roils Oil Exports

Saudi Arabia experienced its steepest economic decline since the Covid-19 pandemic, with a significant quarterly contraction largely attributed to disruptions in the oil sector due to the US-Israeli conflict with Iran. This downturn highlights the fragile state of the nation's economy, which heavily relies on oil exports. The implications extend beyond Saudi Arabia, affecting global oil markets and economic stability. For a more detailed analysis, check out the full article on Bloomberg.