Current Affairs

Record of six Arab countries in oil production

During the past year 2019, six Arab countries have met the global demand for 22.3% of oil.

Saudi Arabia topped the list with daily oil production of 9.8 million barrels.

According to Al-Qaeda, members of the oil exporting organization OPEC are six Arab countries – Saudi Arabia, Iraq, Emirates, Kuwait, Libya and Algeria.

Al-Qaeda’s analysts said in the context of the figures released by the OPEC organization, “Oil production in six Arab countries during 2019 was 22.3% of the global crude oil demand last year. Global demand was 99.8 million barrels”.

The OPEC member Arab countries made the record despite a 1 percent drop in oil production. These countries were producing 22.5 million barrels of oil daily during 2018.

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The daily production of OPEC member Arab countries recorded 74.4% of OPEC’s total output during 2019. All member states of OPEC continue to extract 29.9 million barrels of oil per day.

Arab countries subject to the OPEC Plus deal during 2019 to reduce oil production.