Saudi Arabia's GDP Falls 4.8% in Q2 2026 Amid Oil Contraction

Saudi Arabia's real GDP shrank by 4.8% in Q2 2026 compared to the same period last year, primarily due to a 24.7% contraction in oil-related activity.

The non-oil sector, however, edged up 0.6% in the quarter, while government output advanced 0.9%, according to Al Rajhi Capital.

Crude output climbed 12% month-over-month to 7.4 million barrels per day in July, indicating steady production despite regional geopolitical risks, the firm noted.