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Dissertation_Dr Faisal Almubarak

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71<br />

Table 3.1<br />

Oil Production and Revenues, Selected Years<br />

Year<br />

Daily Production<br />

b/day<br />

Price<br />

(U.S. dollars per<br />

Annual<br />

Revenues<br />

Barrel)<br />

1938 1.4 -<br />

0.1<br />

1940 13.9<br />

-<br />

1.2<br />

1950 546.7 1.75 56.7<br />

1954 961.8 1.93 236.3<br />

1957 1,130.8 2.08 296.3<br />

1959 1,152.7 1.90 313.1<br />

1960 1,313.5 1.80 333.7<br />

1964 1,896.5 1.80 523.2<br />

1970 2,799.1 1.80 1,214.0<br />

1971 4,768.9 1.80 1,884.9<br />

1972 6,016.3 1.80 • 2,744.6<br />

1973 7,596.2 2.85 4,340.0<br />

1974 8,479.7 11.25 22,573.5<br />

1975 7,075.4 12.4 25,675.8<br />

1976 8,577.2 12.4 30,754.9<br />

1977 9,199.9 13.00 36,540.1<br />

1978 8,301.1 12.70 32,233.8<br />

1979 9,532.6 24.00 48,435.2<br />

1980 9,900.5 32.00 84,466.4<br />

1981 9,808.0 34.00 101,813.0<br />

1982 6,500.0 34.00 70,478.6<br />

1983 5,100.0 29.00 37,351.6<br />

1984 4,700.0 29.00 31,470.3<br />

1985 3,100.0 28.00 18,322.9<br />

1986 4,689.8<br />

-<br />

13,554.8<br />

1987 3,991.0 - 17,489.3<br />

1988 4,928.1<br />

-<br />

16,638.0<br />

1989 4,863.5<br />

- -<br />

1990 - 31,122,2<br />

Sources: Saudi Aramco, 1989; Ismail M. Duais, 1986. (Numbers are rounded to nearest decimal). Kingdom<br />

of Saudi Arabia, Saudi Arabian Monetary Agency, Research and Statistics Department, Annual Report,<br />

1410/1411H (Riyadh: Ayyobi Printers, 1990), 190.

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