Why Is Saudi Arabia The Strongest Member Of The OPEC?
Saudi Arabia was one of the founding members of the Organization of Petroleum Exporting Countries (OPEC) with about 267 billion barrels of proven oil reserves at the end of 2014. The Middle East country accounts for about 22% of the proven oil reserves held by the OPEC, which is the largest reserves held by a single member. The country produces more than 25% of the OPEC’s total oil supply and has a notable amount of spare capacity, which it can use to maneuver the dynamics of the oil markets. The country accounts for roughly 10% of the global oil production, and has historically altered its oil supply to manipulate oil prices. Further, Saudi Arabia contributes to more than a third of OPEC’s oil exports. Consequently, the country has held a dominant position within the organization and plays a crucial role in the determination of crude oil prices.
Have more questions about Anadarko Petroleum (NYSE:APC)? See the links below:
- How Important Is India In The Determination Of Crude Oil Prices?
- Can India Surpass China’s Crude Oil Demand Growth?
- Why Is OPEC An Important Determinant Of Crude Oil Prices?
- Why Is China A Key Factor In Determining Crude Oil Prices?
- How Have Plummeting Crude Oil Prices Impacted Merger And Acquisitions In The US Oil And Gas Industry?
- How Are Crude Oil Prices And Global Oil Rig Count Correlated?
- How Are Natural Gas Prices And Global Gas Rig Count Correlated?
- Lower Commodity Prices Likely To Create A Dent In Anadarko’s 1Q16 Earnings
- How Will Anadarko’s Revenue Move If Crude Oil Prices Average At $50 Per Barrel In 2018?
- How Will Anadarko’s Revenue Move If Crude Oil Prices Rebound To $100 Per Barrel By 2018?
- Why Are Crude Oil Operations Important For Anadarko?
- How Will Anadarko’s Revenue And EBITDA Grow Over The Next Five Years?
- How Has Anadarko’s Production Mix And Price Realizations Changed Over The Last Five Years?
- How Has Anadarko’s Revenue And EBITDA Changed Over The Last Five Years?
- What Is Anadarko’s Fundamental Value Based On 2016 Estimated Numbers?
- What Is Anadarko Petroleum’s Revenue And EBITDA Breakdown?
- How Has Anadarko Petroleum’s Revenue And EBITDA Composition Changed Between 2010-2016?
- 2015 Earnings Review: Weak Commodity Prices Create A Dent In Anadarko’s Earnings; New Projects May Help The Company To Remain Afloat
- How Will Anadarko Perform In 2019?
- Andarko 4Q: Andarko To See Improved Earnings But Cash Flow May Face Headwinds
- Anadarko Has Been Trading At A 52-Week Low. Where Will It Head Going Into 2019?
- Higher Oil Output And Improved Commodity Prices Will Drive Anadarko’s 3Q’18 Results
- Ramp Up Of Oil Production Will Drive Anadarko’s Value In The Near Term
- Key Takeaways From Anadarko’s Second Quarter Results
Notes:
1) The purpose of these analyses is to help readers focus on a few important things. We hope such lean communication sparks thinking, and encourages readers to comment and ask questions on the comment section, or email content@trefis.com
2) Figures mentioned are approximate values to help our readers remember the key concepts more intuitively. For precise figures, please refer to our complete analysis for Anadarko Petroleum
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