Saudi Arabia finding it hard to prop up oil prices

Oil prices have rallied this week, allaying immediate fears among key energy producers.

Still, the anxiety in Saudi Arabia, the world's No. 1 oil exporter and the country with the largest amount of oil reserves, is set to continue. The nation not only faces a longer-term challenge to its economy from falling oil prices, but also has to contend with a rapidly deteriorating security situation in the region. None of the strategic choices facing the kingdom is likely to be easy.

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A version of this article appeared in the print edition of The Straits Times on August 15, 2019, with the headline 'Saudi Arabia finding it hard to prop up oil prices'. Print Edition | Subscribe