Oil has returned to the limelight. A series of factors have conspired to push the price of crude oil above US$80 per barrel and it seems that it is heading towards the psychological barrier of US$100. Within this oil boom Who do you think is the world's largest oil producer?
a) Kuwait
b) Saudi Arabia
c) USA
d) Russia
ANSWER:
c) USA. In 2020, the American giant produced 18.6 million barrels of crude oil per day, equivalent to 20% of world production, according to the US Energy Information Administration (EIA). It is followed by Saudi Arabia and Russia, with 11% of production each.
Source: EIA