environmentneutral

Saudi Oil Revenues Plummet: OPEC+ Cuts and Low Prices Take Their Toll

Tuesday, August 27, 2024

Saudi Arabia, the world's leading oil exporter, has experienced a significant decline in its oil revenue, reaching a three-year low in June 2024. According to data from the General Authority for Statistics, the kingdom earned 66.314 billion Saudi riyals ($17.683 billion) from oil sales in June, marking a 12.6% decrease from May and the lowest earnings since August 2021.

OIl revenue accounted for 75.4% of the overall revenue, while non-oil export revenues dropped 17.9% to $4.1.18 billion.

general authority saudi arabia

Actions