Saudi Gas, Oil Consumption Growing Faster Than Economy

Saudi Arabia’s consumption of oil and natural gas is growing at a high rate compared with the growth in the kingdom’s population and economy, the Saudi Press Agency reported, citing the central bank.

The average local consumption of gas and oil grew 5.9 percent in the past five years, the official news service reported, citing the kingdom’s central bank governor Muhammad al-Jasser. “Domestic consumption of oil and gas is posting continuing growth and at high rates,” the report said. “This requires looking into the reasons behind the increase in oil and gas consumption and working on rationing it.”