The World - News from April 1, 1985

Saudi Arabia, the world’s largest oil exporter, suffered a drop of more than 30% in its 1984 revenues due to “continued weak demand” in the international petroleum market, the Saudi Monetary Authority announced. Its annual report said 1984 oil revenues fell 31.1% to $36.6 billion. The kingdom’s revenues in 1982 reached $94 billion, but there was a drop of 43.4% in 1983. Saudi Arabia’s daily output is now about 4.3 million barrels--a decline from its peak of 10.3 million barrels in late 1979 and early 1980.