Highlights Kingdom’s revenues from oil activities rise 23.1% Platts Analytics estimates fiscal breakeven of $69/b Output quota 11 mil b/d in August under OPEC+ deal OPEC kingpin Saudi Arabia has reaped the benefits of higher oil prices and higher production, with its second quarter GDP rising by an 11-year record 11.8% from the same period in 2021, its General Authority of Statistic reported July 31. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now “This dynamic growth was mainly due to the increasing in oil activities by 23.1%,” which includes producing and refining crude oil and natural gas, the report added. OPEC and its allies have been gradually raising crude production quotas since imposing historic cuts in May 2020 to offset the worst impacts of the coronavirus pandemic. Under the OPEC+ deal, Saudi Arabia is allowed to pump 11 million b/d in August, a […]