Saudi Arabia’s oil revenues began 2025 strongly as a raft of new US sanctions targeting Iranian and Russian oil exports in January caused a temporary oil price spike (MEES, 17 January). With the price of Saudi Arabia’s flagship Arab Light crude export grade rising back above $80/B for the first time since July, oil export revenues increased to an eight-month high $18.9bn in January, level with the year-ago figure (see chart 1).
Saudi Oil Export Revenues Start 2025 At Eight-Month High
A geopolitical-driven price spike lifted Saudi oil export revenues to their highest level since May 2024 in January. Subsequent price drops will have driven revenues lower for February and March, but Riyadh can look forward to higher output from April.
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Charts
1: Saudi Arabia's Monthly Oil Export Revenues ($bn) Rebounded To An Eight-Month High In January As Arab Light Prices Rose Back Above $80/b
2: Saudi Arabia's Voluntary Production Allocation* Set To Gradually Increase From April (mn b/d)
3: Saudi Export Revenues From India, Japan Have Been Rising Markedly In Recent Months ($bn)
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