Saudi Crown Prince says $1tn US investment pledge fits kingdom’s business strategy
Saudi Crown Prince Mohammed bin Salman said on Tuesday that the kingdom’s $1 trillion investment pledge in the US is part of its long-term business strategy, even as it deals with lower oil prices.
Prince Mohammed increased Saudi Arabia’s investment commitment from a previously announced $600 billion during a meeting with President Donald Trump at the White House. It was the Crown Prince’s first visit to the US since 2018.
Experts have questioned whether Saudi Arabia could finance this commitment amid softening oil prices. Despite geopolitical volatility this year, bearish sentiment has taken hold on growing fears of an oil supply glut as Opec+ increases oil production.
Saudi Aramco this month reported a decline in revenue in the third…
