What is the percentage of Arab oil reserves globally?

What is the percentage of Arab oil reserves globally?



The oil

Oil has a great economic and political importance, as it has become the main engine for the global economy alike, and large and producing countries put huge sums of money to extract it due to its important economic value. Where it is used in many areas in public life, it is one of the primary energy sources that are used in the production of electrical energy by burning it, in addition to its use in the operation of factories, and a motor for transportation and equipment, and it enters in the composition of some chemical products such as pesticides, plastic, and fabrics The pharmaceutical, and synthetic leather industry.

The United States of America ranks first in the list of oil consumers globally, with an estimated value of consumption of about eighty million barrels per day, or one fourth of global oil production, or 4% of the total consumption of the Earth's population from world oil production, and the degree of America's dependence on importing Oil to fill the shortage of its need for 21 million barrels of oil per day, or about 75%.

Arab oil reserves

The percentage of oil reserves in the Arab world is approximately 415 billion barrels of oil, or 65.7% of the global reserves of estimated crude oil, 724 billion and approximately 500 million barrels of oil. Based on the foregoing data, oil has given the Arab world tremendous importance worldwide. The following table shows the percentage of oil reserves in every country in the Arab world:
Country Global reserve
Saudi 22.1%
Kuwait 7.66%
Algeria 0.90%
Iraq 11.8%
Libya 3.05%
The United Arab Emirates 7.21%
Qatar 1.12%
Oman 0.41%
Sudan 0.37%
Egypt 0.27%
To whom 0.22%
Syria 0.18%

The advantages of Arab oil

  • Geology of the storing layer of oil, geologically, the thicker layers of oil contain a greater proportion of oil reserves, therefore the Arab world imposes its control on more than 56.7% of the world's total oil.
  • The low number of dry wells in the Arab region, and this comes in light of the comparison with dry wells that exist around the world, as they do not exceed 5%, while in the United States there are about 15%.
  • The distinctive geographic strategic location, where the oil wells and fields are located at the meeting point of three continents, namely Asia, Europe and Africa, which led to the distribution of Arab oil at a relatively lower financial cost compared to the two American continents.
  • The proximity of the Arab oil fields to the sea coast, which facilitated the maritime transport process at the lowest possible cost.
  • The density and quality of Arab oil, as these features added to it the full possibility of using it for a number of industrial purposes, and thus became a favorite of the major countries for its import.
  • The depth of Arab oil wells is medium, with depth ranging between 7000-14,000 feet, while the depth of American wells reaches 30,000 feet, thus reducing the percentage of drilling expenses.

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