Saudi Aramco

After brief Khashoggi boycott, BlackRock's Larry Fink returns to Saudi Arabia

Accepting his humanitarian award. Photo by Ilya S. Savenok/Getty Images
Larry Fink accepting his humanitarian award. Photo by Ilya S. Savenok/Getty Images

Where's Larry Fink, the CEO of BlackRock?

The backdrop: In October, Fink was on a long list of CEOs who made a big show of pulling out of Saudi Arabia's Future Investment Initiative, also known as Davos in the Desert. In November, Fink was honored by the International Rescue Committee at its annual dinner, where he received the charity's Humanitarian Award.

Expert Voices

Saudi oil boost to help Trump on Iran won't kill OPEC–Russia

Khalid A. Al-Falih and Vladimir Putin seated onstage at a conference
Russian President Vladimir Putin and Saudi Energy Minister Khalid Al-Falih. Photo: Sergei Savostyanov/TASS via Getty Images

The announcement that the U.S. will not extend waivers for Iran oil export sanctions beyond May 2 sent oil prices up, though President Trump and Secretary of State Mike Pompeo signaled that Saudi Arabia and the United Arab Emirates would add supplies.

The big picture: This plan could strain production cuts Riyadh agreed to in December with OPEC, Russia and others that have buoyed prices by 37% in 2019. Saudi Arabia's broader cooperation with OPEC+ since late 2016 has provided much-needed cash to mitigate deficits, burnish sovereign assets for mortgage and fund the Crown Prince’s economic transformation plans.