Prince Mohammed (far right) at the 2019 G20 Osaka summit
More bad signs for MbS
Sub-$60/bl Brent, a rising budget deficit, soft foreign direct investment and subdued growth in the non-oil sector all drag on Vision 2030
Saudi Arabia's crown prince Mohammad Bin Salman, or MbS, as he is known, has made his Vision 2030 programme to modernise the Saudi Arabian economy by reducing oil dependency a flagship policy. But recent developments suggest the headwinds it is facing are growing stronger, rather than the promised transformation growing any momentum. Currently, oil and gas sales account for 30pc of Saudi GDP, government consumption and investment— including government stimulus and petrochemical investment—account for around 34pc, while just 36pc is contributed by the private sector. Under Vision 2030, the aim is to raise the share of private non-oil revenues to 65pc by 2030. For that to happen, non-oil priva
Also in this section
19 March 2026
The regional crisis highlights the undervalued role of fixed pipelines in the age of tanker flexibility
18 March 2026
Rising LNG exports and AI-driven power demand have raised concerns that US gas prices could climb sharply, but analysts say abundant shale supply and continued productivity gains should keep Henry Hub within a range that preserves the competitiveness of US LNG
18 March 2026
Risks of shortages in oil products may cause world leaders to panic and make mistakes instead of letting the market do what it does best
17 March 2026
The crisis in the Middle East has put LNG’s ability to offer security and flexibility under uncomfortable scrutiny
