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Higher Oil Prices Fuel Rebound in Saudi Foreign Reserves: Chart

Higher Oil Prices Fuel Rebound in Saudi Foreign Reserves: Chart

Higher Oil Prices Fuel Rebound in Saudi Foreign Reserves: Chart

(Bloomberg) -- Saudi Arabia is finally reaping the benefit of leading OPEC efforts to boost oil prices by trimming global output. Its net foreign reserves rose for three consecutive months through December for the first time since 2014, tracking oil’s recovery. The trend may continue, with oil enjoying its best January since 2006 and net-long positions at record highs.

To contact the reporter on this story: Ahmed Feteha in Cairo at afeteha@bloomberg.net.

To contact the editors responsible for this story: Alaa Shahine at asalha@bloomberg.net, Stuart Biggs, Amy Teibel

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