Saudi Arabia is taking unprecedented action in delaying the release of its international crude selling prices by five days as the kingdom and other major producers seek to halt the free-fall in worldwide crude prices.

In other news, The Saudi government will cover 60 per cent of the salaries of private-sector workers in industries hit by the coronavirus pandemic. Companies forced to consider lay-offs due to the virus could now apply to the government for the next three months up to 9,000 Saudi riyal per month, King Salman announced on Friday.

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

If you would like to be added to our weekly email distribution of this newsletter, please email us.

Leave a Reply

Your email address will not be published.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