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Members of OPEC
Members of OPEC
42 countries produce 98% oil in the world. 14 countries out 0f 42 pass their production
peaks. e.g. Russia, USA- 4.62Gb/yr and 4.12Gb/yr respectively.
Saudi Arabia may soon exceed US and grab the second position.
Exhibit- III
Nation Peak Year 1970 2005 1987 1974 Oil production Gb/yr Peak USA
Venezuela *
FSU Iran*
Iraq*
S.A.* Syria
2010
2011 1995
1.90
3.92 0.22
.44
3.42 0.21
1.08
2.04 0.04
7.3%
16.3% 0.5%