Russia now world’s largest oil producer

In trying to follow developments on the world oil market, it is important to have a clear picture of the major forces that are influencing the demand for and supply of oil. Generally, it is known that the USA is the major consuming nation and that China has emerged as a large consumer, causing prices to rise sharply over the last three years. It is also well known that the OPEC countries are the largest block of producers, with Saudi Arabia topping the list.

JamaicaObserver