Daily Energy Report
Saudi oil revenues, Crude product inventories, Hurricane Francine, OPEC long-term forecast, OPEC+ overproduction overblown, Insurers bet on oil/gas, Eni CEO: Q4 $80 oil, and more.
Chart of the Day: Saudi Oil Revenues
Summary
Saudi oil revenues have been tied to oil prices in recent years. Not surprisingly, revenues have declined as oil prices have fallen. Figure (1) shows trends in Saudi monthly oil revenues since the beginning of 2021. Data for August and September are EOA’s estimates. Any discussion of these revenues is meaningless without context as explained below.