GCC Countries Lead in the World in Crude Oil Production and Reserves

  • GCC Countries
  • 4 December 2023
1

A report issued by the General Secretariat of the Cooperation Council for the Arab States of the Gulf showed that the Gulf Cooperation Council countries rank first in the world in the production of crude oil, and in the reserves of this oil as in natural gas reserves, and in the second place in the world in the trade balance surplus.

According to the report, the GCC countries occupy the next position globally:

- The first in the world in crude oil production, in crude oil reserves and in natural gas.

- Second globally in the current balance surplus.

- Fifth globally in total exports.

- Ninth globally in GDP at current prices.

- Eleventh in terms of trade exchange.

- Fourteenth in total imports.

With regard to the Sustainable Development Indicators Goals for 2022, the Secretariat stated that the proportion of the population who rely mainly on clean fuels and technology ranges from 99.3 percent to 100 percent.

Source (Al-Sharq Al-Awsat Newspaper, Edited)

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