Oil Industry Sticks With Saudi Arabia Through Khashoggi Scandal

Most Western executives dropped out of a Riyadh conference after a dissident’s killing, but CEOs of several foreign oil firms attended

By

With its investment prospects rocked by the killing of dissident journalist Jamal Khashoggi, Saudi Arabia turned this week to its most trusted business ally—the oil industry.

Saudi officials said agreements totaling over $55 billion were struck in the energy, transportation and petrochemicals sectors during a three-day conference in Riyadh that ended Thursday. The mostly nonbinding pacts were striking for their focus on oil at a conference that is Crown Prince Mohammed bin Salman’s main showcase for his efforts to diversify...

RELATED VIDEO

Why U.S.-Saudi Economic Ties Complicate Diplomacy
The web of economic ties between the U.S. and Saudi Arabia is so complex that it can complicate diplomacy in times of turmoil. WSJ’s Shelby Holliday looks at the various ways the U.S. and Saudi Arabia are economically intertwined.