Commodity markets

Saudi Crown Prince Barrels Ahead With Big Projects to Boost Economy

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Saudi Crown Prince Barrels Ahead With Big Projects to Boost Economy

TABUK, Saudi Arabia—This desert kingdom is pushing ahead with multibillion-dollar plans to build a spate of new cities despite the coronavirus pandemic and depressed oil prices, betting that projects closely associated with the crown prince will kick-start its economic recovery. The developments include a futuristic city-state called Neom in the country’s remote northwest Tabuk province, … Read more

With U.S. Backing, Iraq Pushes for Energy Rapprochement With Saudis

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With U.S. Backing, Iraq Pushes for Energy Rapprochement With Saudis

The Trump administration is urging Iraq to proceed with a project to connect its power grid with Saudi Arabia and other Gulf states, among steps to reduce Baghdad’s longstanding dependency on Iranian energy, U.S. and Arab officials said. The grid-connection venture has been the subject of intensive consultations in recent months and was discussed during … Read more