oil | West Herald

February 27, 2019 No Responses

Venezuela Is Facing A Crisis – Who Will Buy Its Oil Now?

Venezuela is having a hard time selling heavy crude oil due to sanctions from the US Oil controls the country’s economy in Venezuela, but over the past decade, oil production has collapsed and the country’s in deep economic crisis. The...

June 14, 2016 No Responses

Saudi Arabia aims to diversify its economy

The National Transformation Plan will cut salaries and focus on non-oil revenue until 2030 The considerable drop in oil prices over the past one year and a half motivated prince Mohammed bin Salman to create a plan to reform the...

March 29, 2016 No Responses

Saudi economy affected by oil prices

According to the recently released central bank data, the kingdom’s economy struggles due to Saudi consumers spending less money. As cash withdrawals dropped by 8 per cent in February and the government decided to cut spendings, Saudi economy is struggli...