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 |
**2018.
19 Feb, 2021
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Saudi Arabia’s oil sector underwent a rollercoaster year in 2020 in which oil export earnings fell by around 40%. No part of the sector was unchallenged by the dramatic impact of the pandemic.
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