Economics

Saudi Arabia Tucks Away Billions in Oil Money for Next Year

Oil pipelines run through the Juaymah Tank Farm in Ras Tanura, Saudi Arabia.
Photographer: Simon Dawson/Bloomberg

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By Abeer Abu Omar and Matthew Martin

May 26, 2022 at 1:15 PM UTC

Updated on

May 26, 2022 at 5:20 PM UTC

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Saudi Arabia will hold billions of dollars from its oil windfall in a government current account until the end of the year and only then decide how to distribute the money, a shift in its strategy from previous boom periods.