80 of export earnings o 20 of GDP Iraq o 75 of GDP Nigeria UAE Angola Venezuela

80 of export earnings o 20 of gdp iraq o 75 of gdp

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80% of export earnings o 20% of GDP Iraq o 75% of GDP Nigeria UAE Angola Venezuela Norway Canada Mexico Top 5 consistently: Saudi Arabia, Russia, Iran, Nigeria, UAE These are countries that have an excess of petro, and/or low population so not a high demand Also some countries that are not as industrial, not as manufacturing based, not as many cars, not the same standard of living, not as much of a demand for oil Nigeria o 90% of export earnings is oil o 35% of GDP African countries that export o Angola 45% of GDP o Algeria 70% of GDP Venezuela o 95% of the export earnings are oil o 25% of their GDP Central Asian states Mexico Libya o 95% of export earnings is oil o 50% of GDP OPEC-Organization of the Petroleum Exporting Countries Ecuador Venezuela Angola Nigeria Algeria Libya Iraq 4
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Iran Kuwait Qatar UAE Saudi Arabia All in the top 30 Essentially controls the price of oil period 5
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  • Fall '08
  • JDBOYER
  • Saudi Arabia, motor oil

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