Saudi Arabia’s economy grew by 6.8% year-on-year in Q3 according to initial government figures, up from 1.9% for Q2. This was the fastest rate since the first quarter of 2012. The General Authority for Statistics attributes the growth to much-increased oil activities “as a result of rising world demand for crude oil and the increase of Saudi production in 2021.” The oil sector grew by 9.0% last quarter, outpacing non-oil on 6.2% and government activities on 2.7%. Not since 2Q 2012 has the oil sector grown so rapidly.