Entering the final stretch of the year, Saudi Arabia can look back at how the summer played out with satisfaction. The kingdom brought back 1mn b/d of crude oil production between April and September, and despite concerns over economic uncertainty and global oversupply, quarterly export revenues in Q3 of $55.4bn were at their highest level since the second quarter of 2024.
Q3 revenues were up $2.9bn year-on-year, marking the first such annual rise since 4Q 2022 (see charts 1 & 2). (CONTINUED - 920 WORDS)
