’ After all, the Saudi strategy was for it and all other OPEC members to pump as much crude oil as possible to push oil prices as low as possible to cause as many bankruptcies as possible in the U.S. shale oil sector. The fact of the matter is that the Saudis did pump every...
Matthew DiLallo
Even with the United States producing so much oil, it is still heavily dependent on foreign sources. It's that dependence that crippled the country during the oil embargo of 1973 and 1974. To make sure that this situation never happens again, the federal government formed the Strategic Petroleu...
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...
In 2021, Russia exported over 7,000,000 b/d in crude oil and petroleum products to the world. This is a massive amount, and there is no easy and ready replacement for that much production. The world depends on this oil to a large extent....
Find out how Saudi Arabia, through its spearheading of a mining and minerals production and consumption push in the Middle East, a region usually associated with oil and gas, is leading neighboring countries to increase their presence in the base metals
Even with the United States producing so much oil, it is still heavily dependent on foreign sources. It's that dependence that crippled the country during the oil embargo of 1973 and 1974. To make sure that this situation never happens again, the federal government formed the Strategic Petroleu...
Saudi Aramco, the state oil giant, refines in northern China. Experiments with export bans have mostly been in simpler commodities, such as timber in Ghana and tea in Tanzania. By contrast, obtaining nickel pure enough to be used in electric vehicles from Indonesia’s supply is ferociously com...
Which Countries Produce the Most Oil and Gas? 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, Ch...
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...