Saudi Arabia posts $15.3 billion budget surplus in Q1 as oil prices surge | Al Arabiya English

Saudi Arabia posted a budget surplus of 57.49 billion riyal ($15.33 billion) in the first three months of 2022, the finance ministry said, bolstered by a 58 percent jump in oil revenue as prices surged.

The data came a few hours after Saudi Aramco reported an almost 82 percent rise in first-quarter net profit, broadly in line with analyst forecasts, helped by strong oil prices and volumes.

The world's biggest crude exporter posted oil revenues of 183.7 billion riyal in the first quarter, up from 116.6 billion riyals the same period in 2021, the data showed.