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Ex-Goldman Sachs Analyst: Oil Could Make Saudi the Sole Winner
Economist analysts indicate that rising oil prices could offset the decline in Saudi export volumes during the war, leading to an increase in the kingdom’s public revenues by approximately $210 billion annually, despite the impact of targeting the East-West pipeline. Estimates suggest that exports were around 7 million barrels per day at a price of $60 per barrel at the beginning of 2026, amounting to about $150 billion annually. However, this figure dropped to approximately 4 million barrels per day during the peak of combat, with the barrel price rising to $110, resulting in revenues reaching $160 billion. In September, exports were estimated at 5.5 million barrels per day with Brent crude at $105, boosting revenues to around $210 billion—about 6% of the kingdom’s GDP. The numbers illustrate that rising oil prices play a crucial role in strengthening government funding, potentially providing more scope for investment in non-oil activities amid growing demand for shipping and enhanced maritime protection.
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