Saudi Arabia.docx - Hello class and Professor Oil Mining in...

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Hello class and Professor, Oil Mining in Saudi Arabia Saudi Arabia is one of the oil mining countries in southwest Asia. It is believed to contain the second largest oil reserves in the world. Research also shows that it is the world’s largest exporter of petroleum. The statistics of the crude oil reserves in the country are estimated to be approximately 268 million barrels. Most of them are found in the eastern part of the country. The value of crude oil exports is estimated to be $ 110 billion while refined petroleum exports were estimated at $14.1 billion in 2018 ( Blazquez & Pierru, 2018). The major nations which Saudi Arabia exports its oil to are Japan, the United States, China and several countries in Africa. However, despite the high percentages of exports the country portrays, it also faces numerous challenges. The most common one is the fluctuation of oil prices. Oil is a major drive to many economies and any slight fluctuations lead to several economic hardships. Sometimes,
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  • Spring '16
  • Saudi Arabia, Oil Mining

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