Oil and Gas

Saudi-US economic relations over 85 years

Trade and economic relations between Saudi Arabia and the United States are considered a critical component of the deep historic ties between the two countries.

These relations date back to 1933 when the American Standard Oil Company of California discovered oil in Saudi Arabia. Since then, leaders of both countries have demonstrated keenness to develop trade and investment relations by establishing joint councils, committees and exchange trade delegation visits.

According to preliminary 2017 data released by the General Organization for Statistics, the US ranks second in terms of the volume of trade exchange with the kingdom which is valued at SAR 135 billion.

 

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