Saudi Arabia, the world's <a href="https://www.ft.com/content/aaaad78b-2980-4bb3-90f8-e8d7ab617796">largest</a> oil producer in the Persian Gulf and the <a href="https://www.worldometers.info/oil/oil-production-by-country/">second</a> <a href="https://www.ft.com/content/aaaad78b-2980-4bb3-90f8-e8d7ab617796">largest</a> after the United States, has started to cut production, a source familiar with the situation <a href="https://www.bloomberg.com/news/live-blog/2026-03-08/iran-latest-mmia2vxb?srnd=homepage-europe">told</a> Bloomberg. According to him, Saudi Arabia took such a decision due to the actual blockage of the Strait of Hormuz - a narrow water passage off the coast of Iran, through which passes a fifth of all maritime oil transportation. Restriction of shipping through this route has led to the filling of oil storage tanks in the country, Bloomberg writes.

The Gulf's largest oil producer has begun cutting production

Saudi Aramco, Saudi Arabia's largest oil company, said that one of its refineries was hit, resulting in a small fire at the facility that was contained, CNBC <a href="https://www.cnbc.com/2026/03/02/us-iran-live-updates-trump-oil-gold.html">writes</a>.

A fire broke out at a Saudi Aramco plant after an Iranian attack. Work has been suspended

In Serbia, <a href="https://www.theguardian.com/world/2025/nov/12/jared-kushner-protest-belgrade-building-serbia">protests</a> against a $500 million project of the US president's son-in-law Jared Kushner. In the Middle East, a peace plan in which he may play a key role. Between these stories is the same business model: the private company of the president's son-in-law attracted $4.8 billion from sovereign funds of those states that are directly involved in the foreign policy of the United States. Oninvest continues the series of materials about how members of the family of the American leader make money on the famous family name. This article is about why Donald Trump's foreign policy has become a gold mine for the husband of his eldest daughter.

Trump Family Inc.: How the president's son-in-law Jared Kushner makes money on foreign policy

ACWA Power Company

Saudi Arabia is one of the world's largest oil producers, and China is its largest consumer and the Saudis' main customer. But in the energy sector, the two countries have found another area of cooperation. China is a world leader in the development of renewable energy. And now Saudi Arabia, using its technology, has engaged in the rapid development of solar generation.