Saudi Arabia’s export revenues over the first nine months of 2018 are already within touching distance of the full year 2017 figure. The kingdom’s latest trade data shows that export revenues over the period are up nearly 27% ($58.7bn) year-on-year.
Unsurprisingly, oil revenues account for the vast bulk of the rise, given that at $71/B over this timeframe Saudi Arabia’s key Arab Light crude grade is up 40% year-on-year. Meanwhile, gross liquids export volumes are up 9% over the same period to 9.14mn b/d and are on course to break 2016’s annual record (MEES, 23 November). (CONTINUED - 411 WORDS)
