New Market Report: Saudi Arabia Oil & Gas Report Q3 2016


Fast Market Research recommends "Saudi Arabia Oil & Gas Report Q3 2016" from Business Monitor International, now available



[ClickPress, Thu Jun 16 2016] We have revised up our Saudi Arabia crude oil production forecast in 2016. Output will remain in a gentle uptrend across the forecast period, as the kingdom looks to maintain its export levels against rising demand domestically. The kingdom is increasingly targeting its resources towards development of its non-associated gas base. The unconventionals potential is vast, but progress will be slowed by the high cost and technically challenging nature of the resource base and a lack of foreign involvement in the sector. Low state-set gas prices are a major deterrent to investment and the December 2015 hike in prices will be insufficient to draw interest from the major internationals. The consumption outlook is bullish for both oil and gas, despite ongoing subsidy reform. However, gas demand will remain capped by production across our 10-year forecast.

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