Occupying four-fifths of the Arabian Peninsula, Saudi Arabia has
about one third of the world reserves of petroleum. Saudi Arabia
is the largest petroleum producer of OPEC, and one of the leading
oil exporters of the world. Oil can be retrieved so inexpensively
since it is so close to the surface. Saudi Arabia can control
prices since it also has the world's largest developed reserve
pumping capacity for oil.
Saudi has over 300 recognized reservoirs, with 90% of it's oil coming
from the five super giant fields. There have been no new discoveries
of giant fields since the 1970's. Saudi Arabia's most significant
oil field is Ghawar. Ghawar is the world's largest oil field and
accounts for 55% - 60% of all Saudi oil produced.
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