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What oil slump? Saudis spend without feeling pinch

Tuesday, November 3, 2015 - 05:50

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Sharing oil wealth with the public has helped keep the Al Saud family in power, and the kingdom's rulers would rather run huge budget deficits than risk tampering with the bedrock social contract.

Riyadh

SPEND the afternoon strolling through Riyadh's shiny shopping malls, or an evening at one of its luxury restaurants, and you'd never guess there's an oil slump.

That's not an accident, it's Saudi policy in action. Sharing oil wealth with the public has helped keep the Al

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