The member countries of OPEC who concluded an agreement to reduce oil production called on all leading global oil producers to join this treaty. Recall, it provides for a reduction in the production of black gold by the end of 2018. Experts have compiled a list of 10 oil-producing countries that will determine the future of the oil market.
Russia
Last year, Russia outstripped Saudi Arabia in terms of oil production having won the status of the largest oil producer. It cooperates with OPEC joining the agreement to reduce the extraction of raw materials.
Saudi Arabia
The Kingdom is considered the second largest among the world's leading oil producers. Since May 2017, Saudi Arabia has reduced the production of black gold to the level below 10 million barrels per day.
The USA
Currently, the United States does not adhere to the OPEC agreement. They, on the contrary, increase oil production. Experts say that it especially involves the producers of shale oil.
Iraq
In August 2017, Iraq, one of the largest oil-producing states, went on to cut production. The country began to produce 4.38 million barrels per day instead of 4.4 million barrels.
Canada
In Canada, the production of black gold in August this year amounted to 3.12 million barrels per day which is much lower than previous values.
Venezuela
One of the leading global oil producers, Venezuela, in August 2017 produced 2.1 million barrels per day. Experts believe that these indicators of the country, which is on the verge of default, mean a lot for the global economy.
Nigeria
This state is considered one of the largest oil producers in Africa. OPEC allowed Nigeria not to reduce the level of black gold production because of the extremely unstable political situation in the country.
Mexico
Analysts record a decline in the level of oil production in the country for the third month in a row. In August, Mexico produced about 1.94 million barrels per day.
Angola
Angola is considered the second largest oil producer in Africa after Nigeria. The country produces about 1.68 million barrels per day.
Norway
Norway is also decided to reduce oil production in order to stabilize the global market of black gold. In August 2017, the country produced about 1.57 million barrels per day after 1.62 million a month earlier.
For nearly a century, the US-based weekly periodical Time has closed out the year by selecting the person who has had the most significant impact on the global stage—not necessarily a positive one. This year, the magazine's cover features Donald Trump, who recently won the US presidential election. Let's find out who else was honored by Time and in which nimonations.
Following his election victory, Donald Trump, a billionaire himself, once again decided to include prominent magnates in his administration, as he did during his first presidential term. As a result, Trump's current cabinet features seven billionaires, making it one of the wealthiest in US history. Let's find out who these billionaires are and the roles they have been assigned.
Not long ago, the United States held a presidential election, where Donald Trump emerged victorious. Today, he is recognized as the wealthiest American leader in the country's history. Let's take a closer look at other former US presidents who also achieved significant financial success.
