Economics, Energy and the Future Stability of Saudi Arabia

February 10, 1999

Saudi Arabia remains one of the largest and most powerful states in the Gulf, and a key supplier of world oil imports. In 1998, Saudi Arabia has well over 260 billion barrels of proven oil reserves, or one-quarter of the world's total. Saudi Arabia is the pivotal oil exporter in the Gulf, the Middle East, and the world. It is the world’s largest “swing” producer, and Saudi Arabia plays a critical role in ensuring moderate and stable oil prices.