Saudi Arabia’s Oil Revenues Rise

Saudi Arabia’s Oil Revenues Rise

Saudi Arabia’s Ministry of Finance announced that the kingdom’s second-quarter crude-oil revenues climbed 28% from second-quarter revenues in 2016, Egypt Oil & Gas reports.

Crude-oil revenues approached $27 billion for the second quarter of 2017, up from just over $21 billion in the second quarter of 2016, according to statistics released by the ministry.

Higher gas prices in 2017 account for the rise in revenues, The National reports.

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