Saudi Arabia

Saudi Arabia, as the world's largest oil exporter, faces very low direct vulnerability to the ongoing Iran conflict, largely due to its significant production capacity and alternative export routes. The kingdom is currently benefiting from the surge in global oil prices, maintaining exceptionally low domestic gasoline prices at $0.48/L and robust strategic reserves for over 730 days. Its zero oil import dependency and non-reliance on the Strait of Hormuz for exports provide strong resilience. The outlook for Saudi Arabia is stable, as it continues to capitalize on the tight global oil market conditions in the near term.