Saudi Arabia has nearly one-fifth of the world’s proven oil reserves and ranks as the world’s largest exporter of petroleum. More than half of its oil reserves are found in just eight spots of Country and approximately 60% of all production comes from gaint Ghawar field. About 55 per cent of its gross domestic product and 90 per cent of its export earnings are contributed by oil and gas sector . Half of their exports are made to Far East Asia countries. In 2012, 16% of Saudi liquids exports were sent to the United States and ranked second largest oil exporter to the United States. Its policies on the production and export affect economy and energy sector of whole world.
Saudi Arabia, an Islamic country, leads world in oil export. It exported an estimated 8.8 million barrels per day (bbl/d) in 2012 according to U.S energy information administration. In 2012 Major importer countries of KSA included United States, Japan , China , South Korea and India.
Source: http://www.eia.gov
