Saudi Outlook changed to Negative by Moody's as Reserves Tumble

[BLA + 1,666]

This will increase their funding costs.

Edited May 5, 2020 by BLA

[Tom Kirkman + 8,860]

I'm shocked.  Shocked I tell you !

[Old-Ruffneck + 1,239]

3 hours ago, BLA said:

Who's next downgrade UAE ?

Yes, KSA taking down UAE and Kuwait. If GDP is 90% black goo, well flooding the markets may not have been MBS's most logical move, it's the followers that should hang their heads in shame. It's not turning out as they expected. 

[John Foote + 1,135]

Oddly enough Kuwait, Qatar, UAE, are all better poised to handle the situation than KSA.

Qatar clearly depends on natural gas which isn't used in transportation like gasoline/diesel/Av gas are. And there are only a few hundred thousand Qataris, not twenty million citizens as the Saudis contend with. The Qatar situation is fundamentally different.  KSA has turned a potential allie into a well endowed enemy, but fortunately with no ability to project force beyond splashing a bit of cash and cable news.

Kuwait and UAE are bigger population wise than Qatar, but ratio of people to take care of to oil revenues is much more favorable. Not bragged by KSA, but KSA's economic output per individual has been in decline for a while. Both Kuwait and UAE get along with Iran far better than most of us realize. The people's along the Gulf have been trading with each other for a long, long time. Different attitude than the bedouins.

If I was KSA's oil and gas rich neighbors I'd worry more about KSA than Iran. Iran can feed itself, and yes, endure miserable poverty, but they can feed themselves. KSA cannot. 

Now will Qatar still get their World Cup? I hope to heck there will be one someplace. FIFA's corruption ran (runs) deep.