Saudi economy hits new levels of oil independence

Saudi economy hits new levels of oil independence

The NewsSaudi Arabia’s economy has reached new levels of independence from oil and is now letting the private sector take on a bigger role, Minister of Economy and Planning Faisal Alibrahim told Semafor at Davos.Non-oil activities now make up around 55% of GDP, and the contribution of oil revenue to the rest of the economy has declined from 90% a decade ago to 68% now, Alibrahim said. The shift validates a decadelong effort to diversify the coun…

Saudi Arabia crude exports rise to more than two-and-a-half-year high in November

Crude exports from the world's largest oil exporter increased ⁠to 7.378 million barrels per day

Saudi Arabia Crude Exports Rise to 7.378 mln bpd in Nov - Energy News, Top Headlines, Commentaries, Features & Events

(Reuters) – Saudi Arabia’s crude oil exports in Nov rose to 7.378 million barrels per day from 7.098 million bpd in Oct, official data showed on Wednesday. Monthly export figures are provided by Riyadh and other members of the Organization of the Petroleum Exporting Countries (OPEC) to the Joint Organizations Data Initiative (JODI), which published ...