For decades, the true numbers relating to Saudi Arabia’s level of crude oil reserves and production have been a subject of much debate and confusion, not helped by the obfuscation from the Saudis over precisely what these numbers are. The reason for obfuscation is that Saudi Arabia’s only...
Matthew DiLallo
Big Oil giants from Texas to Saudi Arabia are turning to plastic to support future growth. The International Energy Agency predicts that “oil demand related to plastic consumption overtakes that for road-passenger transport by 2050,” and its top...
A: Hew Crane came up with this term. He was waiting in a gas line in 1973 when he began contemplating how much oil the world was then using annually. He made some guesses of the number cars, and the miles driven by each, etc., and came up with an estimate approaching a trillion g...
Trump to Send Troops to Saudi Arabia in Response to Attack on Oil Facilities And it’s largely paid for with money from the world’s most valuable oil company, Aramco, of which Saudi Arabia currently owns 96% of between the country and its Public Investment Fund. When Aramco’s Initial Pu...
While it's tough to know just how much oil is left in the world, more and more governments and businesses are looking into sources of renewable energy. This includes sources we can never really run out of, including wind, solar power and even heat from deep inside the Earth's core, jus...
In 2022, Thailand’s trade with the United Arab Emirates (UAE) reached a remarkable US$3.4 billion, dominated by car parts, air conditioners, agricultural goods, and tech equipment, noted by the ASEAN Briefing. The non-oil trade alone between the two countries grew by 21%, hi...
As of 2024, the United States is the world's largest net producer of crude oil, followed by Saudi Arabia, Russia, Canada, and China. When it comes to natural gas production, the top five countries include the United States, Russia, Iran, China, andCanada.78 ...
Since the OPEC nations produce so much of the world's oil supply, they can manipulate the price per barrel depending on how manybarrels per daythe group will sell on the world oil market. If the group wants the price to rise in order to make more money, they can reduce the amount of...
On the other hand, Canada has long sold the U.S. 99% or more of its total oil exports: It did so even before the two countries struck a free-trade agreement in 1988. In other words, NAFTA does not appear to have done much to open the U.S. market to Canadian crude. It was alr...