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 | 9.22 | mn b/d |
| Crude Exports | 6.67 | mn b/d |
| Gas Output | 9.03 | bn cfd |
| Oil Export Rev. | 121.9 | $bn |
23 Jul, 2021
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With Opec+ cuts now easing, Saudi crude output could hit 10mn b/d by year-end. With gas output already on the rise oil burn could soon drop below year-ago levels.
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