Saudi Arabia

Saudi Arabia with crude production capacity in excess of 12mn b/d is a critical supplier to global markets and the most powerful voice within Opec. Gas development is an increasingly key priority as the government seeks to erase its shortfall.

State of Play

Saudi Arabia’s economic diversification investments are accelerating under its radical Vision 2030 program, but this is all being financed by crude oil revenues. Meanwhile unconventional gas developments and renewable energy are gaining traction as Saudi Arabia aims to end domestic oil burn.

2024 In Numbers

Crude Output	9	mn b/d
Crude Exports	5.923	mn b/d
Sales Gas Output	123.5*	bcm
Oil & Gas export revenue	223	$bn

*2023

OPEC & Global Markets

23 May, 2025

Featured

Saudi Prioritizes Refining Over Crude Exports In Q1

Saudi crude exports started the year at their lowest Q1 level since 2021 as the kingdom instead prioritized maximizing refinery throughputs, in a move which could have paid dividends when refining margins rallied in April.