Oil: who are the world's biggest market players?

[Sammyboy RSS Feed]

An honorable member of the Coffee Shop Has Just Posted the Following:


Oil: who are the world's biggest market players?

Russia and Saudia Arabia are the traditional world oil suppliers but the demand is changing, new energy is being found - swinging the major markets, but who are they?

By Robert Midgley
5:16PM GMT 18 Jan 2016

For decades Saudi Arabia has been seen as the oil tycoon of the world. However, regional instability causes prices to rapidly influx causing the Saudi giants to slump off the top spot.



The US took the spot light as the biggest oil producer in the world after the foreign oil influxing made them look for alternative ways to make their own energy, in the form of fracking.

Canada, China and Russia are the other major suppliers, all produce between 4.6million and 11million barrels of oil per day.



Russia has also made the move in to the arctic, finding untapped oil under the sea ice, which estimates to be around 100 billion barrels.








Click here to view the whole thread at www.sammyboy.com.