This weekend’s OPEC+ meeting will be closely watched. We expect that the group will stand pat on Sunday, but OPEC+ has a history of springing surprises. Meanwhile, the Kingdom’s 2022 Census revealed that the population is getting increasingly young. Unless reform efforts are accelerated to target the labour market and education, there is a risk that current high income levels cannot be sustained. Finally, the mortgage boom in Saudi Arabia is petering out as higher interest rates have come back to bite.
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