Saudi Arabia’s oil production cuts have tipped its economy into reverse

Saudi Arabia’s oil production cuts have tipped its economy into reverse

Abu Dhabi CNN  —  Saudi Arabia’s economy has jolted into reverse, after the world’s largest crude oil exporter slashed output to prop up prices. Saudi gross domestic product, the broadest measure of its economy, shrunk 4.5 percent year-over-year in the third quarter of 2023, the country’s official statistics agency said this week. That’s the largest …

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