According to a 150-page report by Citigroup, Saudi Arabian oil could dry up as early as 2030 which is a lot sooner than previously thought
The high consumption of oil in the Gulf nations for air-conditioning and desalination means that oil wells are likely to run dry a lot sooner than expected. That’s the news coming from a report by Citigroup which states that Saudi Arabia could be an oil importer by 2030. Local Saudi consumption is skyrocketing with residential use making up 50 percent of demand and over two thirds of that goes to air-conditioning. Saudis are also consuming 250 litres of water per person per day – that makes them (rather shockingly) the world’s third largest water consumer – and most of that water is from energy intensive desalination plants.












Defying the Iraqi central government, the Kurdistan Regional Government (KRG) has begun selling gas directly to Turkey. Crude oil sales will also begin soon.