Crude oil prices rose on Thursday, boosted by tensions in the Middle East and global supply cuts, with Brent crude, the global price benchmark, topping $91 a barrel.
The current price is the highest since October last year.
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The Kingdom of Saudi Arabia is expected to benefit and generate billions of dollars as a result of the rise in oil prices, as it is the largest exporter of crude oil in the world.
Saudi Arabia is considered one of the biggest beneficiaries of the rise in oil prices, as it relies on crude oil exports to finance the budget.
Saudi Arabia uses its oil revenues to finance infrastructure projects and social development programs.
Saudi Arabia seeks to diversify its economy and reduce its dependence on oil, but oil will remain the country’s main source of income for years to come.
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2024-04-04 21:31:01
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