Goldman Sachs expects that by 2030, Saudi Arabia may invest most of its funds (about 73% of total investment) in non-oil industries, down from the previous estimate of 66%, which means only about a quarter of the funds will be invested in the oil industry. This is because Saudi Arabia is currently focusing on diversified industries, including metals and minerals, transportation and logistics, and digitalization. According to the economic transformation plan "Vision 2030" of Crown Prince Mohammed bin Salman, Saudi Arabia has opened up new economic channels, invested in new industries, and reshaped the country's image. One of the major goals of the vision is to reduce dependence on oil sales. Goldman Sachs estimates that capital expenditures in the oil industry may decrease by $40 billion from now to 2028. Nevertheless, natural gas will still be a "key contributor to the country's decarbonization, economic development, and diversification plan".
高盛:预计沙特将削减针对石油行业的巨额支出
Goldman Sachs: Expect Saudi Arabia to cut huge expenditures on the oil industry.
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