Page 8 - Oil

THE MAIN PLAYERS Russia – Russia produces Saudi Arabia – After Russia, The United States – The U.S. The top importers and 12% of the world's oil and Kingdom of Saudi Arabia stood as the third-largest oil exporters of Crude Oil in is the top oil producer as is the world’s top crude oil producer in December 2016 of December 2016. Russia’s producer at 10.46 million with production levels at 2016 are as follows: oil and natural gas industry barrels of oil a day as of 8.8 million barrels daily. This brings in nearly 36% of December 2016. Saudi Arabia has raised higher and as of Russia’s federal budget owns the second highest 3rd November 2017, almost revenues. In 2016, Russia oil reserve after Venezuela 9.62 million barrels of oil are exported more than 5.2 and is estimated to have produced in the USA in a million BPD of crude oil and over 260 billion barrels of oil. day. Interestingly, The United more than 2.4 million BPD of Venezuela has the largest oil States is the world's biggest petroleum products. Almost reserves in the world with 300 oil consumer as well. 70% of Russia’s crude oil billion barrels. exports went to European Majority of Shale oil comes Exporter Country Importer Country countries like Netherlands, Due to the slumping prices from Eagle Ford, Bakken, and Germany, Poland, and Belarus, and a gradual shift to non- Permian Basin in the USA. • Saudi Arabia • China while China received 18%. fossil fuel energy sources • Russian Federation • USA worldwide, Saudi Arabia is • Iraq • India planning to launch a major • Canada • Japan renewable energy program • UAE • Korea with investment levels • Kuwait • Netherlands between $30 and $50 billion. • Iran • Germany • Nigeria • Italy • Angola • Spain • Norway • France 06 05 OIL 06 ALL YOU NEED TO KNOW TO TRADE GOLD IN THE FINANCIAL MARKETS