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World oil reserves as of 2013. The petroleum industry, also known as the oil industry, includes the global processes of exploration, extraction, refining, transportation (often by oil tankers and pipelines), and marketing of petroleum products.
Top 5 oil-producing countries 1980–2022 World oil production. This is a list of countries by oil production (i.e., petroleum production), as compiled from the U.S. Energy Information Administration database for calendar year 2023, tabulating all countries on a comparable best-estimate basis.
BofA has estimated that non-OPEC countries will account for around 70% of market share in the first quarter of 2025. These countries have gradually outpaced OPEC+ since 2017, data from the bank ...
The United States oil industry is made up of thousands of companies, engaged in exploration and production, transportation, refining, distribution, and marketing of oil. The industry is often informally divided into "upstream" (exploration and production), "midstream" (transportation and refining), and "downstream" (distribution and marketing).
Oil may get another run as liquid gold. Crude futures surged 9% last week — its biggest weekly gain since March 2023 — driven by escalating tensions in the Middle East.Israel’s vow to ...
More oil is expected to enter the market if OPEC+ starts to unwind some of its production cuts during the last month of the year. “I still very much believe that we will see sub-$3/gal gasoline ...