Bloomberg Surveillance · Monday, July 13, 2026
Saudi Arabia is strategically investing domestically and abroad, managing to generate significant revenue despite global energy market fluctuations. The country is prioritizing renewable energy sources like wind, solar, and battery power, aiming to cease oil burning for power generation by 2030.
“The Saudis are in a very different position. They have invested at home much more than they've invested abroad, particularly in terms of revenue generation, although they've managed to do very well during this crisis. A couple of months ago they had their highest monthly revenue that they've had in well over a year, so a combination of factors there.”
“And the UAE Saudi Arabia in particular are taking advantage of it, and that is we're seeing the electricity intensity of GDP going up. You've had a lot of people on talking about AI and cloud computing. This is extremely electricity intensity and the Saudis have been extremely lucky. They've got wind, they've got solar, they have battery power, and they have been weaning themselves off. And you can see it in the oil numbers. They use a lot of oil burning for power generation and by twenty thirty they'll be using none.”