Brent Nears $95.63, Boosting Saudi Oil Revenues

Brent crude futures settled at USD 95.63 rising about 1.04% in a single session and keeping prices firmly in the USD 94–96 range in early September. The level remains well above the August weekly average of roughly USD 89–94 supporting Saudi export earnings.

At Brent around USD 95–96 Saudi budget oil revenue for 2026 is projected at just over SAR 700 billion, up from SAR 607 billion in 2025. For the full year, oil revenue is estimated near SAR 783 billion, representing about 26% of GDP, with the budget break-even oil price assessed near USD 96

Quarterly figures show Saudi oil export revenues charted in the range of roughly SAR 214–255 billion, with total export revenues around SAR 308–356 billion In March 2026, oil export revenues reached about SAR 92.5 billion (around USD 24.7 billion), a 37.4% year-on-year increase and the highest level since October 2022, driven by higher energy prices despite lower export volumes.

On the volume side, February 2026 crude exports stood at about 7.28 million barrels with total output near 10.88 million barrels a more than two-and-a-half-year high. March export volumes eased to about 4.39 million barrels down roughly 26% year-on-year, yet the value of exports still rose by around USD 558 million compared with a year earlier thanks to stronger prices. Over the first half of 2026, crude exports fell about 22% year-on-year to roughly 123.5 million tons.

Higher benchmark prices matter for residents because they strengthen the Kingdom's fiscal position, providing additional space to fund Vision 2030 projects. With early-2026 Brent levels near USD 108 Saudi Arabia was estimated to generate a fiscal surplus of roughly USD 42–48 billion.

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