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The largest oil producing country is arabia.all the south west countries are famous for this purpose.But the Iran,Iraq,Oman are also very famous.the most largest one is soud-i-arabia.here about 250 meter well of oil is present.from this well the pipe line system has made between the amrica and other europien countries.
THIS PARAGRAPH HAS GIVEN BY FARIDA REHNAN.
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What is the difference between BP to OPEC?
BP is simply an Oil producing firm whilst OPEC is a trade bloc/ organisation which regulates the production of oil within 12 countries
How effective is OPEC?
The effectiveness of OPEC varies dependent of political and economic factors. During the 1973 OPEC induced oil crises their cartel actions created economic emergencies on global economies whose infrastructure were dependent on crude imports. The rise of the United States in 2014 as the world's largest oil and natural gas producer further weakens the effectiveness and coercive powers of the cartel. Moreover, non OPEC states such as Canada and Russia further weaken OPEC's threat of using oil as a weapon. Lastly OPEC states such as Saudi Arabia can and have been known to break the cartel producing as they wish to counteract potential oil crises.
What single country depends most on OPEC oil?
Since the 1970's 80% of the oil in the US comes from OPEC. Before 1970 the USnproduced 80% and imported 20%.
Indonesia is an oil-producing nation?
Yes. It is the second largest oil-producing nation in Asia; second to China.
Why was the US vulnerable to OPEC?
The US is vulnerable to OPEC because of the oil import. There is about 40% oil in OPEC countries.
Is Germany a member of OPEC?
No. OPEC Members are all oil producing countries. Germany is not an oil producing country.
Which country buys the largest percentage of OPEC oil?
The United States, in fact, buys the largestpercentage of OPEC oil.
What is the top oil producing country in western Africa?
Nigeria is has the largest population of all countries in OPEC. In 1956, oil was discovered for the first time in Oloibiri, Nigeria's Bayelsa State.
What country is the world's largest oil producing country?
Russia is the largest producing country in the world it produces about 10,124,00 barrels per day.
What country uses oil the most?
America is the biggest oil consumer country of the world and Saudia Arabia is the largest oil producing country of the world. Russia is the largest oil producing country, it produces about 1,200,000 more barrels daily than Saudi Arabia
What kind of influence do the countries of OPEC have?
OPEC forms an oligopoly in the oil market by coordinating policies of the oil-producing countries in order to ensure a steady income.
What organization's goal is to control the worlds production and price of oil?
OPEC is the organization that controls the world's production and price of oil. The members of OPEC come from twelve oil producing states.
What monopoly was formed by oil-producing nations of the middle east to control the supply and price of oil?
OPEC
What is the difference between BP to OPEC?
BP is simply an Oil producing firm whilst OPEC is a trade bloc/ organisation which regulates the production of oil within 12 countries
How does Texas rank nationally in terms of oil production?
Texas is the top oil-producing state in the U.S., often producing more oil than many OPEC countries.
Is Canada a member of OPEC?
No, Canada is not a member of OPEC (Organization of the Petroleum Exporting Countries). OPEC is a coalition of oil-producing countries that work together to regulate the production and price of oil on the global market. Canada is a major oil producer but is not part of this organization.
Which country imports the most oil from OPEC?
According to AESC the US is the biggest OPEC customer.
