Rising oil exports highlight strength of Saudi economy, expert says

Omar Bahliwa, head of the Diwan Al-Asas Business Consultancy, praised the 19.5% increase in Saudi oil exports to 70.9 billion riyals (SAR) in May.

In an interview with Al Ekhbariya TV, Bahliwa said, "The rise in oil exports reflects the strength of the Saudi economy and its ability to absorb geopolitical and logistical shocks. Despite challenges related to navigation in Bab Al-Mandab and the Strait of Hormuz, the Kingdom’s economy continues to grow, supported by ongoing spending and development projects. This jump in exports carries both political and economic significance, especially in light of the repercussions of the Iran-US conflict."

He added that Saudi Arabia has opened its ports and border crossings to the five other Gulf Cooperation Council countries as well as Jordan, facilitating increased trade flows among these nations via the Kingdom’s sea, land, and air ports. The East-West pipeline continues to efficiently transport oil to Red Sea ports, supporting the continuity of oil exports. There are also plans to increase the East-West pipeline’s capacity to around 10 million barrels per day.

Bahliwa noted that some imports for Gulf states pass through Saudi Arabia, reflecting the Kingdom’s prudent policies and robust infrastructure. He also highlighted the opening of a major storage facility at Jeddah Islamic Port on the Red Sea, which will help boost import and export volumes.

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