The article analyzes the current state and prospects for the development of the oil sector of the Saudi economy. In particular, the dynamics and technologies of raw material extraction, plans for the development of new fields, and features of transportation and export of oil and petroleum products are discussed in detail. The author comes to the conclusion that the kingdom will continue to skillfully implement various state programs and projects in the hydrocarbon sector, designed to strengthen its leading positions among countries with impressive reserves of "black gold". Keywords: Saudi Arabia, oil, oil production, oil refining. The oil sector is the leading sector of the economy of the Kingdom of Saudi Arabia (KSA), providing approximately 80% of the budget revenue, 45% of GDP, and 90% of the state's export earnings [CIA World Factbook, 2012]. More than half a century ago, Saudi Arabia, which was at the origin of the creation of the Organization of the Petroleum Exporting Countries (OPEC), which has solid deposits of "black gold"1, is the main supplier of this energy carrier in the world. The state's energy policy, which has internal and external components, is based on two factors: the leading role of the oil sector in the country's economy and the ability to influence the world market due to the presence of unique reserves and a significant amount of oil exports. The internal component is aimed at using oil revenues to diversify the national economy and improve the standard of living of the population. External - to maintain the importance of oil in the global energy balance, to create demand for the energy carrier while maintaining a high share of Saudi Arabia in world supplies. Regulation of the domestic market of oil and petroleum products in the KSA is carried out by the Ministry of Oil and Mineral Resources. An important function in energy coordination- 1 The world leader in oil reserves was Saudi Arabia, but, according to OPEC, Venezuela was ahead of the ... Read more