Crude Oil Production for Saudi Arabia
SAUNGDPMOMBD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,595,579.47
Year-over-Year Change
-0.36%
Date Range
1/1/2000 - 1/1/2025
Summary
The 'Crude Oil Production for Saudi Arabia' metric measures the total monthly crude oil production in Saudi Arabia, a leading global producer and exporter of oil. This trend is a key economic indicator for energy markets and policymakers worldwide.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This series represents the total volume of crude oil produced in Saudi Arabia, the world's largest exporter of crude oil. It is a crucial barometer for analyzing global energy supply, as Saudi Arabia is one of the most influential members of OPEC and a major driver of global oil prices and market dynamics.
Methodology
The data is collected by the U.S. Energy Information Administration through direct reporting from the Saudi Arabian government.
Historical Context
Crude oil production figures are closely watched by energy traders, economists, and policymakers to assess the global supply-demand balance and its impact on prices.
Key Facts
- Saudi Arabia is the world's largest exporter of crude oil.
- Crude oil is Saudi Arabia's primary export and a major driver of its economy.
- Global oil prices are heavily influenced by changes in Saudi Arabian production levels.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total monthly crude oil production in Saudi Arabia, a leading global producer and exporter of oil.
Q: Why is this trend relevant for users or analysts?
A: This metric is a crucial indicator for energy markets and policymakers worldwide, as it provides insights into global oil supply and can impact prices.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Energy Information Administration through direct reporting from the Saudi Arabian government.
Q: How is this trend used in economic policy?
A: Crude oil production figures are closely watched by energy traders, economists, and policymakers to assess the global supply-demand balance and its impact on prices.
Q: Are there update delays or limitations?
A: The data is published monthly with no significant update delays, providing timely information on Saudi Arabia's crude oil production.
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Citation
U.S. Energy Information Administration, Crude Oil Production for Saudi Arabia (SAUNGDPMOMBD), retrieved from FRED.