Business as usual for the Saudi economy
Whatever Mohammed bin Salman says, oil will remain central to the Saudi economy for the coming years
LISTENING to discussions about Saudi Vision 2030, it’s easy to think the kingdom’s role as an oil producer is coming to an end. Of all the elements in the al-Arabiya TV interview with deputy crown prince Mohammed bin Salman the one that has caught the imagination of Saudis is that focussing on the country’s relationship with oil. “We have an addiction to oil in the kingdom of Saudi Arabia,” he said, adding that it was a serious issue which needed tackling. The deputy crown prince also rashly predicted that by 2020, if the steps outlined in the strategic plan were taken, “we can live without oil”. The prediction, most Saudi commentators agree, is not realistic and was probably a slip of the t
Also in this section
16 April 2026
Demand for oil is falling because supply cannot meet it, not because it is no longer required
16 April 2026
The continent has an immediate opportunity to make the most of its energy resources by capturing gas that is currently slipping away
15 April 2026
The continent is seeing political pushback to climate plans, corporate reassessment of transition goals and rising supply risk in a fractured global order
15 April 2026
The Middle East energy crisis may turn out to be pivotal to the industry’s long-term expansion, but significant challenges still stand in its way
