Crude Oil Production Leaders In our Quick view we take a look at some oil production indicators. Crude oil is clearly an important source of energy in the world today. By oil production we mean the sum of barrels extracted on a daily basis through the drilling process. According to the International Energy Agency (IEA) over 60% of the worldâ€™s total oil output of crude oil comes from the top ten largest producers. In this connection, 1-which of the following countries is not among the top 3 in global crude oil production? 1. Russia 2. China 3. Iran and 4. USA. 2-Which of the following countries is not a founding member of the Organization of Petroleum Exporting Countries (OPEC), which incidentally account for about 42 percent of global oil production? 1. Nigeria 2. Venezuela 3. Iran and 4. Saudi Arabia ANSWERS 1. Iran is the country listed here not among the top three crude oil producers in the world. 2. Nigeria which joined OPEC in 1971 is not one of the founding members of OPEC. The Organization of Petroleum Exporting Countries (OPEC) was founded in Baghdad, Iraq, with the signing of an agreement in September 1960 by five countries namely Islamic Republic of Iran, Iraq, Kuwait, Saudi Arabia and Venezuela.
Posted: Sep 22nd, 2015 @ 02:02:23 AM