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Oil Discovery and Wealth

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OIL AND WEALTH

Crude oil Discoveries undoubtedly changed the scope of Wealth creation in the world. Middle East, notably Qatar, Kuwait Saudi Arabia just to talk a few are arguably one of the most wealthiest countries in the world. Their wealth is indisputably as a result of the enormous amount of crude deposits. They are noted to be great contributors to Crude Oil exploration and its exports and hold one of the largest reserves.

Accounts from Statista indicate Saudi Arabia solely had a reserve of close to 280 billion barrels with Iran, Qatar and Kuwait following closely.

In 2020 alone the Middle East exported 13.9 million barrels in approximations daily.

Globally the GDP of world economy increased greatly when fossil fuels became the driving force of world industries.

This is indeed a lucrative business to invest.


Statistics data credit: Statista

Content created and supplied by: FunnyBones (via Opera News )

Crude Oil Kuwait Middle East Qatar Saudi Arabia

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