Before the discovery of oil Saudi Arabia's economic structure was limited, and the majority of the population was engaged in herding and agriculture Social
While no one can predict how long the current high oil price environment will last, it is safe to assume that the planned investments will continue until 2010
Anticipating that Saudi Arabia would react by cutting its own output, the light–heavy crude oil price differential narrowed from $7 69 in the week before the
of Arab financial institutions The first type of foreign banks in Arab countries was established long before o i l was discovered in commercial
Kingdom of Great Britain and Northern Ireland and the United Arab Emirates, Treaty Series, no 35 (1972), Cmnd 4937 3 A detailed account 9f the political
Many oil-exporting Arab economies, until recently, faced excess liquidity This weakened monetary policy transmission channels and increased risks of credit
19 Saudi Arabia before Oil Development The Discovery of Oil Saudi-American Relations since the Dis- covery of Oil The Impact of Oil Revenues on Saudi