As energy prices rise, how much does Saudi Arabia earn from oil per day?

Saudi oil exports hit $ 30 billion in March, the highest level in at least six years, driven by high oil prices and increased production.

The Saudi Statistics Authority said the value of crude oil exports, which now stands at around $ 1 billion a day, has increased 123% year-on-year.

The kingdom’s oil production climbed to 10.3 million barrels per day in March, with Brent crude prices in media of $ 112 per barrel. Prices have risen by almost 50% questyear, mainly due to the fallout from the Russian invasion of Ukraine.

The increased revenue helped the kingdom reach a budget surplus of 57.5 billion riyals ($ 15 billion) between January and March. The Saudi economy is expected to be a major economy in fastest growing in the world questyear, according to the International Monetary Fund.

The kingdom’s five largest trading partners were a group of major global oil importers: China, India and Japan, followed by South Korea and the United States.

The value of Saudi Arabia’s total exports increased 93% in March to $ 37.9 billion. The share of oil exports in the total was 80% in March, compared with 70% the previous year.

Oil export numbers may continue to rise as OPEC +, an alliance of 23 oil-producing countries led by Saudi Arabia and Russia, is ramping up production every month in under a deal that expires in September, according to Bloomberg.

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