Saudi Arabia’s energy sector enjoyed a strong 2018 as Opec+ restrictions were eased in the second half of the year and efforts to phase out crude burn for power generation continued to gain traction. Net products exports soared above 1mn b/d for the first time. They could set new records in 2019 if domestic consumption continues to decline. Record exports of high-value products on the back of multi-$bn refinery upgrades are providing an invaluable economic boost for the kingdom.

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