HISTORY
HISTORY OF THE MIDDLE EAST
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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it is a source of wealth
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it controls prices
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it is hard to find
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it does not exist
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Detailed explanation-1: -For decades, the Middle East has been supplying a big part of the oil consumed around the world. Much of the economic development and wealth of these countries is thanks to generous income coming from oil exportation. Saudi Arabia has led the production for decades.
Detailed explanation-2: -Oil and natural gas are the twin engines that power the Middle East’s economy. The region is home to 53 percent of the world’s proven oil reserves and nearly half of all known natural gas reserves.
Detailed explanation-3: -Saudi Arabia. Saudi Arabia produces almost 12 million barrels of oil per day and nearly 12% of world output. Iraq. Iraq produces about 4.8 million barrels of oil per day and is the sixth-largest producer in the world. United Arab Emirates. Iran. Kuwait.