Riyadh ’s financial woes are mounting, and unless Riyadh gets its financial house in order, US two people could see its economy collapsing, warns Forbes . The nation just offered $ 17.5bn in bonds on the international market - its largest bond sale on record. As we have noted, Saudi Arabia is struggling with over 2015 of falling global oil prices amid high global oil production and record high oil inventory levels. But for that to work, he said, the government would have to cut its massive subsidies program to its population, adopt family planning and population control, decrease its foreign war expenditures, and lower its massive military budget. Saudi Arabia has also posted record high budget deficits - $ 98bn for 2015 , equal to 15% of its GDP. Additionally, US shale oil producers are taking more control of global oil markets from Saudi Arabia and OPEC , and rendering less effective any production cut OPEC would seek to put in place.
Riyadh ’s financial woes are mounting, and unless Riyadh gets its financial house in order, US two people could see its economy collapsing, warns Forbes . The nation just offered $ 17.5bn in bonds on the international market - its largest bond sale on record. As we have noted, Saudi Arabia is struggling with over 2015 of falling global oil prices amid high global oil production and record high oil inventory levels. Saudi Arabia has also posted record high budget deficits - $ 98bn for 2015 , equal to 15% of its GDP. Additionally, US shale oil producers are taking more control of global oil markets from Saudi Arabia and OPEC , and rendering less effective any production cut OPEC would seek to put in place.