Middle East

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.

2022 In Numbers
Crude Output 10.57 mn b/d
Crude Exports 7.364 mn b/d
Gas Output 9.6 bn cfd
Oil Export Revenue 327 $bn
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