Oil reserves in the Arab countries in the year 2020.. Here’s how much they reached

Dubai, United Arab Emirates (CNN)—According to data released by the oil and gas company “BP” in its annual report issued under the title “Statistical Review of World Energy 2021,” it is estimated that oil demand will decline by an unprecedented 9.3% (9.1 million barrels in today) in 2020.

The report added that the decrease in oil demand represents about three quarters of the total decrease in energy consumption. Which is the main accounting factor for the near-record drop in carbon intensity in the energy mix. The average price of oil (Brent crude) was $41.84 per barrel in 2020, the lowest since 2004.

In contrast, global oil production shrank by 6.6 million barrels per day, with OPEC accounting for two-thirds of the decline. Libya (-920,000 bpd) and Saudi Arabia (-790,000 bpd) accounted for the largest declines for OPEC, while Russia (-1.0 million bpd) and America (-600,000 bpd) led the highest declines outside of OPEC.

In view of the oil reserves of 2020, Venezuela topped the world’s first place for oil reserves, with its share of the total world reserves reaching 17.5%, and 303.8 billion barrels by the end of 2020, followed by Saudi Arabia with a share of the world’s total amounting to 17.2%, amounting to 297.5 billion barrels. And Canada came in third place with a share of the total world reserves amounted to 9.7%, amounting to 168 billion barrels.

We show you a look at the above infographic on oil reserves in the Arab countries for the year 2020.

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