The Dubai M1–M3 spread collapses from ~$37 to ~$8/bbl as the war premium fades, but Aramco's lagging formula left July differentials high enough to push China's Saudi intake toward ~600,000 bpd
Saudi Arabia
비전 2030의 상징 프로젝트가 인구 목표를 10만 명으로 축소하고 건설 비용을 웃도는 계약 해지 비용에 직면, 리야드가 메가프로젝트를 전면 재조정
The eight unwinders set a 5 July decision for August output as the ceasefire restores deliverability; Brent flipped to contango at $69 on June 25, signalling the war premium is gone
Half the population faces hunger and 450+ health facilities have closed on funding cuts; regional escalation drives up fuel and food prices and threatens Gulf support Yemen depends on
A US deal could permit Saudi enrichment while a new defence pact with Pakistan reopens old proliferation fears
Kyiv signs 10-year air-defence and drone partnerships with Saudi Arabia, the UAE and Qatar and plans 10 European export offices
Seven members add 188,000 bpd for July, but Saudi Arabia's quota sits far above what the closed Strait let it actually export
The US-Iran MoU sends Brent toward $77 and Aramco cuts its July price to Asia, even as the war banked Riyadh a routing windfall through the East-West pipeline
Hopes that the EU-India trade deal would revive the India-Mideast-Europe Corridor run into India-US friction and a Hormuz stress test
A $33.5bn Q1 hole, most of the year's planned shortfall in one quarter, as military outlays jumped and Hormuz throttled oil exports despite high prices
Most for drug offences and many of them foreign nationals, with the total under King Salman now past 2,000, as the kingdom courts the world on Vision 2030