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 Middle East and North Africa (MENA) region is one of the richest in the world in terms of natural resources. It holds more than 60 percent of the world’s proven oil reserves, mostly located in the Gulf region, and nearly half of global gas reserves.

Detailed explanation-3: -Oil is the most abundant resource in the Middle East, and many countries’ economies are dependent on it.

Detailed explanation-4: -Oil sales have created immense wealth and boosted the economy in countries such as Saudi Arabia, Iran, Iraq, and Kuwait. Millions of people in these and other parts of the Middle East have homes, jobs and education as a direct result of oil.

Detailed explanation-5: -Saudi Arabia Saudi Arabia is the world’s largest oil producer and accounts for roughly 15% of global output. Iraq has increased production since the end of the Iraq War and is now the second-largest producer in the Middle East.