Saudi Arabia’s Crown Prince Muhammad bin Salman plans to transform the country and end its “addiction to oil.” But crude oil is set to remain its dominant revenue source and foreign policy tool for the foreseeable future. The kingdom is also eying unconventional gas to ease its gas shortages, while renewables developments are finally gaining traction.
| Crude Output | 9.75 | mn b/d |
| Crude Exports | 7.037 | mn b/d |
| Gas Output | 89.9** | bcm |
| O&G Export Rev. | 201 | $bn |
*End-Year. **2018
22 May, 2020
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Saudi Arabia is doubling down on its two largest crude export markets, China and Japan, as it cuts exports to as low as 5mn b/d for June.
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