GK
WORLD GEOGRAPHY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The import of crude oil and petroleum done from national oil companies of producer countries, which have a net exportable surplus of oil is by
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term contracts
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term tenders
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monthly tenders
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All the above
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Explanation:
Detailed explanation-1: -The USA is the largest producer of petroleum followed by Saudi Arabia, Russia and Canada. The USA produces 18.60 Million barrels per day with a Share of the world total of 20%.
Detailed explanation-2: -Oil imports by source country India was the third largest crude oil importer in the world in 2021. By value, the following 15 countries were the largest sources of crude oil imports into India, providing 91.9% of all Indian crude oil imported in that year.
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