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Oil has great economic and political importance, as it has become the main engine for the global economy alike, and large and producing countries place huge sums of money to extract it due to its important economic value. Where it is used in many areas in public life, it is one of the primary energy sources that are used in the production of electrical energy through burning it, in addition to its use in the operation of factories, and a motor for transportation and equipment, and it includes the composition of some chemical products such as pesticides, plastic, and fabrics The medicines, the artificial leather industry, and OPEC countries provide 40% of the world’s oil and have proven reserves that represent 80% of the world’s oil, which has an impact on the economic and development status of these countries, as it is the first and largest balance of the national income of these countries. The problem of the study was the deterioration and collapse of oil prices, which represented a catastrophe and a major crisis for the most important oil producing and exporting countries in OPEC, and given the tendency of the producing countries to reduce and reduce their daily production and the resulting heavy losses in oil revenues and the funds needed to finance their development projects, they are located between two things Both are difficult, either to increase oil production capacity to compensate for the decrease in world prices and to meet the requirements of economic and social development in their countries, or to reduce production to preserve their natural resources and take austerity measures, policies and programs to reduce the deficit in the advantage Yet. The study aims to identify oil resources in Saudi Arabia and Iran during the period 2018/ 2018. And a study of the development of production, consumption, surplus and deficit of oil resources in Saudi Arabia and Iran 2008/ 2018, estimating the relationship of the impact of the change in oil prices on economic development in the Kingdom of Saudi Arabia and Iran during the period 1991/ 2018, and finally estimating the relationship between the most important economic variables affecting oil prices in Saudi Arabia and Iran during the period 1991/2018 The most important results obtained by Iran 1- Rejecting the zero assumption and accepting the alternative assumption that there is an effect of oil prices on total national expenditures. 2- Rejecting the zero assumption and accepting the alternative assumption that there is an effect of oil prices on the total gross capital formation. 3- Rejecting the zero assumption and accepting the alternative hypothesis that there is an effect of oil prices on the gross national income. 4- Rejecting the zero assumption and accepting the alternative assumption that there is an effect of oil prices on the average per capita share of GDP. 5- Rejecting the zero assumption and accepting the alternative assumption that there is an effect of oil prices on the gross domestic product
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