Saudi Crown Prince Faces New Challenges Amid Oil Slump, Regional Pressures

DID Press: Saudi Arabia’s Crown Prince Mohammed bin Salman confronts mounting domestic and regional challenges as the kingdom grapples with falling oil prices and political pressures. According to a report of Wall Street Journal by Karin Elliott House, oil prices hovering around $65 per barrel have rendered many of Saudi Arabia’s ambitious economic projects financially unsustainable, forcing the government to scale down initiatives, reduce debt, and reassess development plans.

Sources cited by the newspaper indicate that the Crown Prince recognizes the need to adjust the pace of previous reforms and structural projects. He has not given interviews for nearly a year, delegating the explanation of economic policies to the finance minister. Meanwhile, unemployment and the housing crisis remain among the top concerns of Saudi citizens.

Regionally, tensions between the United States and Iran pose risks to Saudi oil facilities and development projects, raising fears of retaliatory attacks.

On the diplomatic front, public opinion remains a challenge: roughly 90% of Saudi citizens oppose formal normalization with Israel, making any official relations politically sensitive, although behind-the-scenes security and intelligence cooperation continues.