Every armchair expert on economics or the Middle East can be counted on to shout “it’s the oil!” when discussing why Saudi Arabia is what it is and does what it does. And when one looks at the headline figures, it is hard to argue otherwise: the Kingdom is the world’s largest oil exporter, has the second-largest reserves and is the de facto head of OPEC, a cartel of oil exporting countries. It is also the quintessential rags-to-riches oil state, defined by irresponsible spending, peculiar national priorities (what is the point of building a 1 km high tower?) and a bloated bureaucracy. Oil has long been the indicator Saudi Arabia’s foreign and domestic policy, but times might be changing.