Buoyed By Saudi Arabia, Middle East Production Is Expected To Increase

Saudi Arabian crude oil production comprises 34% of the Middle East’s liquids output (see the figure below, in which NGL and condensate are reported separately). The Saudi share of total regional production has been increasing in recent years because of supply disruptions of other OPEC members around the world, and it is projected to continue to increase through 2035.

In 2014 Iran, Iraq and Kuwait together produced 31% of the region’s liquids (NGL and condensate produced in these countries is counted in a separate category). Condensate and NGL production in the Middle East is expected to increase by about 53% by 2035 as investments to develop the region’s natural gas reserves continue to increase. This corresponds to an annual increase of 2.0% from 2016 to 2035.