Energy
Saudi Arabia’s energy sector remains the backbone of the economy. As of March 2020 energy operations were facing the twin challenges of low oil prices and sluggish demand as economies around the world ground to a halt following the outbreak of Covid-19. However, the fundamentals underpinning the Kingdom’s energy sector remain strong. The size of its endowment, the comparatively low cost of recovery and opportunities to tap into new natural gas fields all suggest that the country’s energy sector will be a valuable source of competitively priced fuel when the world’s industrial economies start up again.
