What nations produce the largest amount of oil?

Middle East Resources

Top 10 Oil Producers 2017 in Millions of Barrels/day Russia 10.34 Saudi Arabia 9.95 USA 9.34 Iraq 4.38 Canada 3.12 Venezuela 2.1 Nigeria 1.99 Mexico 1.94 Angola 1.68 Norway 1.57

2013 2017 2. Saudi Arabia 11.59 2. Saudi Arabia 9.95 2013 2017 1. United States 12.31 1. Russia 10.34 2. Saudi Arabia 11.59 2. Saudi Arabia 9.95 3. Russia 10.53 3. USA 9.34 4. China 4.46 4. Iraq 4.38 5. Canada 4.07 5. Canada 3.12 6. U A E 3.23 6. Venezuela 2.1 7. Iran 3.19 7. Nigeria 1.99 8. Iraq 3.06 8. Mexico 1.94 9. Mexico 2.91 9. Angola 1.68 10. Kuwait 2.81 10. Norway 1.57

Hinge What is an Import? What is an Export?

Top Oil Producers

What nations export the most oil? Defend your answer?

Top Oil Exporters 2013 in US Dollars http://www. eia Saudi Arabia: 806.71 Million Russia: 637.18 Million UAE: 231.50 Million Kuwait: 213.57 Million Iraq: 204.47 Million Nigeria: 202.38 Million Qatar: 166.43 Million Iran: 157.24 Million Angola: 155.97 Million Venezuela: 155.79 Million

Top Exporters of 2016 in billions of US dollars Saudi Arabia 136.2 2. Russia 73.7 Iraq 46.3 Canada 39.5 UAE 38.9 Kuwait 30.7 Iran 29.1 Nigeria 27 Angola 25.2 Norway 22.6

Top Exporters 2013 2016 Saudi Arabia: 806.71 M 136.2 B Russia: 637.18 M 73.7 B UAE: 231.50 M 38.9 B Kuwait: 213.57 M 30.7 B Iraq: 204.47 M 46.3 B Nigeria: 202.38 M 27.0 B Qatar: 166.43 M 14.6 B Iran: 157.24 M 29.1 B Angola: 155.97 M 25.2 B Venezuela: 155.79 M 20.4 B

https://www.cnbc.com/2017/11/10/here-are-the-worlds-top-10-oil-producers.html?slide=11

What countries import the most oil? Defend your answer!

Top Oil Importers in 2013 (billions of dollars) 1. USA: 670.8 2. China: 510.3 3. Japan: 414.8 4. India 223.8 5. S. Korea 205.7 6. Germany: 202.4 7. France: 154.6 8. Spain: 115.7 9. Singapore 111.0 10. Italy 110.6

Oil Imports for 2017 China 116.2 USA 108.1 India 60.9 Japan 50.8 South Korea 44.2 Netherlands 29.3 Germany 28.7 Italy 18.9 Spain 18.7 France 17.9

Import 2013 2017 1. USA: 670.8 China 116.2 2. China: 510.3 USA 108.1 3. Japan: 414.8 India 60.9 4. India 223.8 Japan 50.8 5. S. Korea 205.7 S. Korea 44.2 6. Germany: 202.4 Netherlands 29.3 7. France: 154.6 Germany 28.7 8. Spain: 115.7 Italy 18.9 9. Singapore 111.0 Spain 18.7 10. Italy 110.6 France 17.9

What Nations Consume the Most Oil?

Top Consumers (Millions of Barrels Per Day) 2006 2016 USA 18,490,000 19,631,000 China 9,980,000 12,381,000 Japan 4,695,000 4,688,000 India 3,450,000 4,489,000 Russia 3,395,000 3,255,000 Brazil 2,864,000 3,242,000 Saudi Arabia 2,861,000 3,895,000 Germany 2,389,000 2,408,000 Canada 2,352,000 2,343,000 S. Korea 2,322,000 2,763,000

What nations have the largest oil reserves? Defend your Answer!

What is an oil Reserve? Total proved reserves of oil are generally taken to be those quantities that geological and engineering information indicates with reasonable certainty can be recovered in the future from known reservoirs under existing economic and geological conditions.

Oil Reserves in billions of barrels http://www. businessinsider Saudi Arabia 265 Venezuela 211 Iran 137 Iraq 115 Kuwait 102 UAE 98 Russia 77 Libya 46 Kazakhstan 40 Nigeria 37

http://media.ft.com/cms/8f4066aa-9934-11dc-bb45-0000779fd2ac.swf

Hinge What impact does OPEC have on global trade? Why is OPEC important?

Why is oil so important (to you!!!)? Why is the Persian Gulf important? (focus question) What are modern trade routes?

Great Britain starts exporting Why would mandates be important? History of M.E. Oil Discovered in 1908 Great Britain starts exporting Why would mandates be important? Western nations make agreements with Middle Eastern nations http://ht3.cdn.turner.com/money/big/investing/2016/02/19/oil-history-timeline.cnnmoney_1024x576.mp4 - History of Oil http://money.cnn.com/2016/02/19/news/companies/schlumberger-ceo-pay-oil-jobs/index.html

OPEC Middle East nations nationalize after WWII Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela form OPEC (Org. of Petroleum Exporting Countries) in 1960 Decide price and amount of oil produced https://www.youtube.com/watch?v=oEm5OLcbW9Q

Goal is to end power of Western oil companies Power increases as demand for oil increases Supply and Demand

OPEC Nations

OPEC Map thoughts… Why such a wide range of places??

OPEC Map thoughts… 1st or 3rd world countries?

Oil as a Weapon 1973, OPEC places an embargo on countries that support Israel 1973 oil crisis begins High inflation results https://www.youtube.com/watch?v=dDwcHT8ZwqE http://www.youtube.com/watch?v=VCLRlVxOH-Q

1973 Gasoline Lines

Price of Oil

Crude Oil is the main primary product from the Middle East Secondary products are manufactured from primary products Petrochemicals are secondary products made from crude oil https://www.youtube.com/watch?v=62LvVYYqUFA – What is Crude Oil, The Atlantic

What do we use oil for? http://www.iprb.org/products.html (made in Illinois) http://www.ranken-energy.com/Products%20from%20Petroleum.htm

Why do oil prices vary so much? Week to week? Year to year?

Why are oil prices falling… http://oil-price

Is the low price going to last? What should the United States do about the cost of oil and potential shortage? Is the low price going to last? What’s going to last??

Oil Alternatives