Part 2/8:
Saudi Arabia, as one of the world’s largest oil producers, relied heavily on oil, which accounts for approximately 90% of its export earnings. This structure, while lucrative during periods of high prices, left the economy vulnerable to volatility. The nation's economic framework fostered job creation that predominantly revolved around the oil sector, leading to significant employment disparities and a reliance on the public sector, which employed two-thirds of working Saudis.