Halfway through 2022 and Saudi Arabia’s exports are booming. The records keep on falling, and with Energy Minister Prince Abdulaziz bin Salman Al Saud seemingly intent on putting a floor under oil prices (MEES, 26 August), there is little sign of a significant drop in revenues any time soon.

Saudi Arabia’s trade surplus of $124.6bn over the first half of the year would already stand alone as the largest surplus since 2018 (see chart 1), and if that performance is replicated over the second half of the year, then the kingdom stands to make a staggering $250bn surplus. (CONTINUED - 572 WORDS)