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Jadwa forecasts higher Saudi oil revenues
Jadwa Investment Company reported that oil revenues in Saudi Arabia's budget are expected to rise despite a decline in production, thanks to higher global oil prices. Although oil production and exports have decreased due to geopolitical tensions and pipeline attacks, the increase in oil prices contributed to an 11% rise in oil revenues in the first half of 2026 compared to the same period in 2025, with overall oil revenues increasing by 9%. The report anticipates that non-oil growth will recover in 2027 after a dip this year, maintaining expectations for rising nominal GDP and oil revenues, despite the challenges posed by the deterioration in oil production.
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