Oil was first discovered in Saudi Arabia on this day, March 3, 1938
In 2021 Saudi Arabia’s oil production was 10.95 million barrels per day, which was down from 11.04 in 2020.
Saudi Arabia is the world’s most important oil producing country. Between 1998 and 2021 the country saw its production increase by 1.5 million barrels per day, peaking at 12,4 million barrels per day in 2016.
A far cry from that day on March 3, 1938.
What will happen Saudi Arabia as the world moves away from fossil fuels?
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