Oil prices remain stable despite Houthi attacks on Saudi Arabia
Saudi Arabia's economy is projected to shrink 3.3% in 2026, with the broader region contracting 4.8%. Houthi attacks have limited economic impact, while oil prices remained stable in early Asian trading. Saudi Aramco evacuated its Dhahran headquarters amid rising attacks.
- Saudi Arabia's real GDP is projected to contract by 3.3 percent in 2026.
- Houthi attacks are having only a limited economic impact on Saudi Arabia.
- The IMF stated that every Gulf state except Oman saw reductions in hydrocarbon production.
- Brent crude futures was down 21 cents at $112.96 a barrel.
- Oil prices were little changed in early Asian trading on Friday.
- Russia was the world's third-biggest crude oil producer in 2025.
- The IMF anticipates a strong rebound of around 9.1% growth next year.
- The Iranian-backed Yemeni group has increased attacks on Saudi Arabia recently.
- Saudi Aramco ordered the evacuation of its headquarters in Dhahran.
Outlets: Arab48, Business Recorder, Business Standard, Free Malaysia Today, Hespress English, Middle East Eye, MyJoyOnline, The Express Tribune
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