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What else can I help you with?
What percentage of oil is brought from outside countries to supply US demand for oil?
As of recent data, approximately 60% of the oil consumed in the United States is imported from foreign countries. This percentage can fluctuate based on various factors such as domestic production levels, global oil prices, and geopolitical events. The U.S. has been working to increase its energy independence through domestic production, particularly from shale oil. However, imports still play a significant role in meeting overall demand.
When the price of oil drops this usually means that OPEC has done what?
Increased Oil Production.
If OPEC decided to cut oil production for the coming year what would be the MOST LIKELY effect?
If OPEC decided to cut oil production for the coming year, the most likely effect would be an increase in oil prices due to reduced supply in the market. This decrease in production could lead to higher costs for consumers and businesses that rely on oil, potentially contributing to inflationary pressures. Additionally, it might incentivize non-OPEC producers to increase their output to capitalize on the higher prices. Overall, such a decision would have significant implications for the global economy and energy markets.
What is the GDP of Iraq?
The gross domestic product of Iraq is oil because oil is a gross domestic (sometimes used at home) and its a product that is sold in Iraq! Duuh.... you guyz didn't kno that!
Curret world production of oil?
Current Oil Production in the World: 81,820,404.59 barrels per day (bbl/day)
Why does the US depend on foreign oil?
In c. 1952 oil consumption in the US exceeded domestic production for the first time.
Has the US reached its oil peak?
It is debated among experts whether the US has reached its oil peak. Some argue that advancements in technology have unlocked new reserves, while others believe that production has plateaued. The US Energy Information Administration has reported fluctuations in US oil production in recent years.
Does the US drill for oil?
Yes, the US does drill for oil. The country has extensive oil drilling operations both onshore and offshore, resulting in significant domestic oil production.
How does Ukraine get their oil?
Ukraine primarily obtains its oil through imports, as domestic production is limited. The country sources oil from various countries, including Russia, Azerbaijan, and other European nations. Additionally, Ukraine has been working to diversify its energy supply and reduce dependence on Russian oil by exploring alternative sources and increasing domestic production. The ongoing conflict has further influenced its energy strategies and partnerships.
Both President Carter and President Reagan favored lifting controls on domestic oil production because they wanted the US to do what?
Rely less on foreign oil. NovaNET! mickey~
What country is the United States in the market for trading oil with?
Other than domestic production, the US sources its oil from a number of countries. Among these are Canada, Saudi Arabia, Venezuela, Nigeria and Angola.
What are the top 10 countries with the most sunflower oil production for the year 2009?
china
Louisiana has what rank in crude oil production?
They rank #4 behind Texas, Alaska, and California respectively. However, federal offshore production is technically #1 with about 500mil barrels of oil produced per year.
How long will the US oil reserves last?
The US has about 20,000,000 barrels of proven reserves. (including park reservations) at 2009 production levels, domestic supply of Oil will be gone in 8 years. (side fact is how valuable oil will be after we've sold all ours)
Where does INDIA stand in oil production?
INDIA ranks 23rd in the production of oil!it imports most of its oil!
How much crude oil is imported from overseas into Australia?
Australia imports 615,000 barrels of oil a day but also exports 338,000 barrels a day possibly because it's oil production is closer to refineries in Singapore or because Australia's refineries cannot handle some domestic oil.8%
When the price of oil drops this usually means that OPEC has done what?
Increased Oil Production.
