Saudi Arabia’s export revenues fell to a seven-month low $26.7bn in September amid softening oil prices. Despite the dip they remain at historically high levels and look set to come in not far shy of 2012’s record $337.5bn for 2022 as a whole.
Already after just nine months of the year, Saudi oil export revenues have exceeded a quarter of a billion dollars. At $253.9bn, the 9M 2022 figure was already well in excess of 2021’s full year figure of $202.2bn. Indeed, it is already in excess of the annual figures for every year since 2014, when oil prices tanked in the second half of the year, and only returned back above $100/B this year after Russia’s 24 February invasion of Ukraine. (CONTINUED - 711 WORDS)