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Saudi Arabia May Become Oil Importer by 2030, Citigroup Says By Ayesha Daya and Dana El Baltaji

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A report by Citigroup has warned that Saudi Arabia could run out of oil to export by 2030, raising fears that oil prices may rise significantly in coming years. The Kingdom is the world's largest oil producer, accounting for about 13pc of global supply, but it may need to use a growing share of its production for power generation to meet rising electricity demand, Citi said.

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