Europe is an increasingly important market for Saudi exports. Legacy oil buyers have upped their takings, while Aramco’s deal-making is also helping forge new markets.
Europe’s share of Saudi Arabia’s export revenues has jumped to 20% since Russia’s invasion of Ukraine upended global energy markets. The continent typically accounted for around 10-15% of Saudi exports prior to March this year, but Gulf energy exporters are benefitting as European governments cut their reliance on Russian oil and gas. (CONTINUED - 784 WORDS)