Saudi Arabia has banned travel to Kuwait, the UAE, Bahrain, Lebanon, Syria, Korea, Egypt, Italy and Iran while also suspending all schools, universities and educational institutions in the Kingdom starting on Monday as a precaution against the spread of COVID-19.

In other news, oil prices are set for their biggest one-day decline after Saudi Arabia ignite a price war in the market. Saudi Arabia plans to boost its crude output above 10 million barrels per day in April after the current deal to curb production expires at the end of March.

To read about this and more of the week’s news from the Kingdom, click here.

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