ECONOMICS
TRADE EXCHANGE AND INTERDEPENDENCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Either A or B
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None of the above
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Detailed explanation-1: -United Arab Emirates imports Refined Petroleum primarily from: India ($2.9B), Bahrain ($1.58B), Iraq ($913M), Kuwait ($877M), and Saudi Arabia ($654M).
Detailed explanation-2: -In 2021, the United States imported about 8.47 million barrels per day (b/d) of petroleum from 73 countries.
Detailed explanation-3: -The UAE domestic market relies on imports to meet demand for some petroleum products. Most of the UAE’s petroleum imports are residual fuel oil, with limited imports of motor gasoline and diesel fuel.
Detailed explanation-4: -The top five sources of U.S. total petroleum (including crude oil) imports by percentage share of total petroleum imports in 2021 were: Canada51% Mexico8% Russia8% Saudi Arabia5% Colombia2% 02-Nov-2022