“If the world does not take a strong and firm action to deter Iran, we will see further escalations that will threaten world interests,” Prince Mohammed, known as MbS, said through a translator. “Oil supplies will be disrupted and oil prices will jump to unimaginably high numbers that we haven’t seen in our lifetimes.”

Saudi Arabia will start offering loans for renewable energy projects and manufacturers of renewable-energy components as the kingdom seeks to diversify its economy away from crude oil.

Saudi Arabia on Wednesday announced it has joined the International Maritime Security Construct to secure the Mideast's waterways.

Bulgaria’s state gas company signed a €1.1 billion ($1.2 billion) contract on Wednesday with Saudi-led group Arkad to build a gas pipeline to carry mainly Russian natural gas.

Dollar-denominated bonds issued by Saudi Arabia’s government and state oil company Saudi Aramco tumbled to multi-week lows on Monday after a weekend attack on Saudi Arabia’s oil facilities shut about 5% of global output.

“OPEC can no longer ignore Russia because of its importance as an oil exporter and its economy,” said Elina Ribakova, deputy chief economist at the Institute of International Finance in Washington. “The Russians will continue doing just enough to engage with the Saudis on oil production.”

Saudi Arabia's officials unveiled plans to invest $100 billion in India, with the bulk of the funds going toward the infrastructure and energy sectors.

Saudi Aramco will cut customer allocations across all regions by a total of 700,000 barrels a day next month,

Saudi Arabia is sending an ever-larger portion of its crude to China - with the US losing out.

Russian and Saudi Arabian companies are considering expanding existing energy cooperation to include new joint oil and gas, petchems and nuclear projects,