Saudi Arabia ’s financial problems are mounting , and unless Riyadh gets its financial house in order , Saudi Arabia 's 200 million 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 . Dilemma of its own making However, much of the blame for Saudi Arabia’s fiscal woes can be placed on its own doorstep. As we have noted , Saudi Arabia is struggling with over two years of falling global oil prices amid high global oil production and record high oil inventory levels . Riyadh has also posted record high budget ##s - $ 98bn for 2015 , equal to 15 % of its GDP . Additionally , US based oil companies are taking more control of global oil markets from Saudi Arabia and OPEC , and rendering less effective any price cut OPEC would seek to put in place .
Saudi Arabia ’s financial problems are mounting , and unless Riyadh gets its financial house in order , Saudi Arabia 's 200 million 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 two years of falling global oil prices amid high global oil production and record high oil inventory levels . Riyadh has also posted record high budget ##s - $ 98bn for 2015 , equal to 15 % of its GDP . Additionally , US based oil companies are taking more control of global oil markets from Saudi Arabia and OPEC , and rendering less effective any price cut OPEC would seek to put in place .