At Davos, Saudi Arabia says curbing oil dependency a priority
Saudi Arabia is working to reduce its reliance on oil exports, Economy Minister Faisal Al-Ibrahim said Wednesday, as the Middle East powerhouse sent one of the largest delegations to the Davos summit to make its case.
Despite its goal of achieving net zero carbon emissions by 2060, the country remains hugely dependent on crude oil exports that have powered its growth for decades, raising doubts about its potential for an economic makeover any time soon.