Friday, July 11, 2025
  • Login
Euro Times
No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
Euro Times
No Result
View All Result

Saudi Arabia GDP climbs nearly 12% in 2nd quarter on oil gains

by Euro Times
July 31, 2022
in World
Reading Time: 3 mins read
A A
0
Home World
Share on FacebookShare on Twitter


RIYADH: Saudi Arabia’s year-on-year financial development hit practically 12 p.c for the second quarter, led by a surging oil sector, the federal government’s statistics company stated Sunday.
The Center East’s largest financial system has benefited from a spike in oil costs triggered by Russia’s invasion of Ukraine, and has largely resisted appeals from Western international locations to boost output in an effort to carry costs down.
Development within the second quarter was 11.8 p.c in comparison with the identical interval final 12 months, in line with preliminary “flash” estimates revealed by the Basic Authority for Statistics.
“This dynamic development was primarily as a result of rising in oil actions by 23.1 p.c,” the company stated.
Non-oil financial actions grew by 5.4 p.c and authorities companies grew by 2.2 p.c in comparison with the second quarter of 2021, it stated.
The Ukraine battle and the ensuing rise in crude costs has been a boon to oil-producing states like Saudi Arabia, the world’s largest crude exporter whose gross home product is anticipated to develop by 7.6 p.c in 2022, in line with the Worldwide Financial Fund.
Because the battle obtained underway, Saudi Arabia and the United Arab Emirates harassed their dedication to the OPEC+ oil alliance, which Riyadh and Moscow lead, underscoring Riyadh’s and Abu Dhabi’s rising independence from long-standing ally Washington.
US President Joe Biden, who as soon as vowed to make Saudi Arabia a “pariah” over human rights abuses, visited the dominion earlier in July, drawing criticism from human rights activists for greeting Crown Prince Mohammed bin Salman with a fist bump.
Oil was on the agenda throughout Biden’s assembly with Saudi leaders and through a subsequent summit of regional leaders, however the go to ended with none agreements to boost manufacturing.
The OPEC+ group is to satisfy on Wednesday.
The primary US contract, West Texas Intermediate crude, surged by greater than 5 p.c on Friday to rise again above $100 per barrel.





Source link

Tags: 2ndArabiaclimbsgainsGDPOilquarterSaudi
Previous Post

Nvidia DLSS isn’t magic, and this FSR hack proves it

Next Post

VR Still Stinks Because It Doesn’t Smell : technology

Related Posts

Russia develops Mi-80 to replace iconic Hip helicopter

Russia develops Mi-80 to replace iconic Hip helicopter

by Dylan Malyasov
July 11, 2025
0

Russia has launched work on a next-generation multirole helicopter designed to interchange the long-serving Mi-8/17 “Hip” collection, in response to...

Bangladeshi rap, memes helped oust Hasina — now they’re reshaping politics | Protests

Bangladeshi rap, memes helped oust Hasina — now they’re reshaping politics | Protests

by Euro Times
July 11, 2025
0

Dhaka, Bangladesh — On July 16, 2024, as safety forces launched a brutal crackdown on scholar protesters campaigning towards then-Prime...

Luxury £80m Brit superyacht bursts into flames in exclusive hols resort as crew members rescued from raging blaze

Luxury £80m Brit superyacht bursts into flames in exclusive hols resort as crew members rescued from raging blaze

by James Moules
July 11, 2025
0

An £80million British-made superyacht has gone up in flames in a luxurious French resort city.The Sea Girl II, which is...

U.K. and France Announce New Nuclear Defense Deal

U.K. and France Announce New Nuclear Defense Deal

by Euro Times
July 11, 2025
0

new video loaded: U.Ok. and France Announce New Nuclear Protection DealtranscriptAgaintranscriptU.Ok. and France Announce New Nuclear Protection DealPrime Minister Keir...

Canadian travel to the U.S. plummets — but Americans are staying home, too

Canadian travel to the U.S. plummets — but Americans are staying home, too

by John Paul Tasker
July 10, 2025
0

It is not simply Canadians who're holding again on cross-border journey amid a U.S. commerce warfare that has soured bilateral...

Things to know about the UN special rapporteur sanctioned by the US

Things to know about the UN special rapporteur sanctioned by the US

by ABC News
July 10, 2025
0

A U.N. particular rapporteur has been sanctioned by the USA over her work as an unbiased investigator scrutinizing human rights...

Next Post
VR Still Stinks Because It Doesn’t Smell : technology

VR Still Stinks Because It Doesn’t Smell : technology

Top analysts say buy stocks like Block & Starbucks

Top analysts say buy stocks like Block & Starbucks

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Why ACA health insurance premiums may see ‘sharp’ increase in 2026

Why ACA health insurance premiums may see ‘sharp’ increase in 2026

July 11, 2025
PEP, Supportive Care, and More

PEP, Supportive Care, and More

July 11, 2025
Research Predicts 0,000 Bitcoin By EOY, If Treasury Firms Hold

Research Predicts $160,000 Bitcoin By EOY, If Treasury Firms Hold

July 11, 2025
Russia develops Mi-80 to replace iconic Hip helicopter

Russia develops Mi-80 to replace iconic Hip helicopter

July 11, 2025
Elon Musk’s SpaceX set to launch Israel’s Dror satellite

Elon Musk’s SpaceX set to launch Israel’s Dror satellite

July 11, 2025
Corn Sticking Close to Unchanged at Midday

Corn Sticking Close to Unchanged at Midday

July 11, 2025
Euro Times

Get the latest news and follow the coverage of Business & Financial News, Stock Market Updates, Analysis, and more from the trusted sources.

CATEGORIES

  • Business
  • Cryptocurrency
  • Finance
  • Health
  • Investing
  • Markets
  • Politics
  • Stock Market
  • Technology
  • Uncategorized
  • World

LATEST UPDATES

Why ACA health insurance premiums may see ‘sharp’ increase in 2026

PEP, Supportive Care, and More

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In