The world’s top oil exporter Saudi Arabia is “not comfortable” with high oil prices. Sure, higher oil prices put pressure on the global economic recovery.
But at the moment demand is still there, and those price levels deliver the Kingdom additional budget revenues when spending commitments are growing.
It gets better: Saudi petrochemical companies raked in forecast-beating first quarter earnings to yield a 51 percent growth in net income year-on-year, according to research by NCB Capital.
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