Moody's: Saudi economy will grow 0.3% in 2019 amid falling production
Economy News - Baghdad
Moody's has cut its forecast for Saudi economic growth in 2019 to 0.3 percent from 1.5 percent in its previous estimate as it expects oil output from the kingdom to fall until the end of the year, a senior analyst said on Monday.
"We have lowered the expected growth of Saudi Arabia," IAEA analyst Alexander Bergese told a news conference.
Along with the disruption caused by the attack on two Saudi oil facilities earlier this month, "Saudi Arabia will continue to over-comply with OPEC's quota," he said.