Saudi Arabian oil industry

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Saudi Arabian oil industry "oil export revenues make up around 90-95% of total Saudi export earnings, 70%-80% of state revenues, and around 40% of the country's gross domestic product (GDP). Saudi Arabia's economy remains, despite attempts at diversification, heavily dependent on oil (although investments in petrochemicals have increased the relative importance of the downstream petroleum sector in recent years)." [1]

"With one-fourth of the world's proven oil reserves, Saudi Arabia is likely to remain the world's largest oil producer for the foreseeable future. During the first eight months of 2003, Saudi Arabia supplied the United States with 1.8 million barrels per day of crude oil, or 19%, of U.S. crude oil imports during that period." [2]

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