| Saudi Arabia exported nearly 1.38 billion barrels of oil in the first six months of the current year (2014) that yielded SR565 billion, an economic expert was quoted by the local media. Local consumption is projected to hit 395 million barrels, or 22 percent of the total production, during the same period, Fahad bin Jumaa told Al-Riyadh Arabic daily.
The figures come at a time when OPEC (Organization of Petroleum Exporting Countries) is poised to shrink its share of the global market for the third consecutive year by 2015 for a number of reasons, including boom of shale oil in the United States despite acceleration of global demand on oil, he said...............................................Full Article: Source
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