Saudi Arabia's budget deficit narrowed to 34.534 billion riyals ($9.21 billion) in the second quarter, marking a 41.1% decline from the previous quarter, as oil and other revenues rose, the finance ministry said on Thursday.

Brent prices were down in Q2 2025 due to tariff related uncertainty and production increase. The upstream business is expected to be impacted by lower crude oil prices and the possibility of absence of premium over Brent, partly offset by higher production, said the report.