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Pump jacks and pipelines move oil through the desert
How Resilient Is Saudi Arabia to a Prolonged Oil Price Slump?
Though drops in oil prices stand to impact Saudi Arabia’s economic stability, the government has turned to drawing down its foreign reserves and issuing bonds to alleviate budgetary pressures and avoid drastic domestic spending cuts. Fellow for the Middle East Kristian Coates Ulrichsen writes in the Baker Institute Blog: http://bit.ly/1fKLWG9.
Kristian Coates Ulrichsen August 28, 2015