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FINANCIAL NEWS
Saudi’s oil sector grows by 5.1 percent
07 Aug 2016
(MENAFN) Saudi Arabia met many issues amid the past 18 months, both economically and politically, which were ended by the weakest economic expansion in Q1 this year.
Meanwhile, the GDP average of the sector increased by 1.5 percent on an annual basis among Jan- March period, following 1.8 percent growth in Q4, 2015.
Moreover, the Arabian Light crude prices amounted at USD30.6 per barrel during Q1 this year, playing a key role on the economy.
In addition, oil sector enlarged by 5.1 percent year on year in real terms, up from 4.5 percent in the last quarter.
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