WORLD HISTORY

Detailed explanation-1: -Today, abundant petroleum fields dominate the area’s economy. The Middle East is similarly disproportionately rich in natural gas (32 percent of the world’s known natural gas reserves are in the region) and phosphate (Morocco alone has more than half of the world’s reserves).

Detailed explanation-2: -The 3 largest oil producers in the Middle East are Iran, Iraq and Saudi Arabia.

Detailed explanation-3: -For some countries, including Saudi Arabia, Iraq and Iran, oil represents more than 85 percent of the nation’s natural resource worth, according to the report. Saudi Arabia has nearly 20 percent of the world’s oil-the greatest share among all countries.

Detailed explanation-4: -Short answer: Most of the oil from the Middle East is crude oil, whereas much of the present oil production in the United States is in the form of shale oil.

Detailed explanation-5: -On March 3, 1938, an American-owned oil well in Dhahran, Saudi Arabia, drilled into what would soon be identified as the largest source of petroleum in the world. The discovery radically changed the physical, human, and political geography of Saudi Arabia, the Middle East, and the world.