Benchmarks: September 23, 1933: The U.S. oil industry arrives in Saudi Arabia

Saudi Arabia currently produces about 11 million barrels of oil per day, edging out Russia and the U.S. to rank first in the world in production, according to the U.S. Energy Information Administration. The desert kingdom also has proven reserves of more than 260 billion barrels — spread among numerous fields (though most reside in a handful of giant fields) — amounting to about one-fifth of the world’s total. The country exports more oil than any other and exerts an undeniably prominent influence on the world oil market from its seat in the Organization of the Petroleum Exporting Countries (OPEC).

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Timothy Oleson

Timothy Oleson

Oleson is the news editor at EARTH, and writes the Bare Earth Elements blog. His scientific interests span the geosciences from biogeochemistry to seismology to space science. Formerly based in Madison, Wis., he now resides in the Washington, D.C., area.

Monday, September 3, 2012 - 06:00

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