Commodity Market Report

Saudi Arabia product markets long-term outlook H1 2019

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18 July 2019

Saudi Arabia product markets long-term outlook H1 2019

Report summary

Saudi Arabia is a large exporter of LPG and naphtha primarily driven by large contributions from non-refinery supply sources. Middle distillates are also surplus as a number of large-scale, export-orientated, refineries have completed in the past few years. We expect the third greenfield refinery, Jazan, to come onstream during Q1 2020. Gasoline remains balanced as strong domestic demand matches additional supply.

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