Crude oil industry in the GCC - statistics & facts | Statista
Jun 21, 2024 · As of 2022, around a third of the world’s oil was produced in the Middle Eastern region. Northern America in comparison produces only 32.8 percent of the total global volume of oil. The leading...
GCC economic growth to rise to 4 percent in 2025 despite trade ...
Mar 18, 2025 · GCC oil sector to grow 3.2 percent Gradual oil output hikes in the GCC region will generate oil-sector growth of 3.2 percent this year, following two years of contraction. For Saudi Arabia specifically, the ICAEW now projects an average oil production of 9.3mn bpd for the year, up from our previous estimate of 9.1 mn bpd.
Arab Gulf Producers Are in Need of Much Higher Oil Prices
Sep 25, 2024 · According to the IMF, Saudi Arabia, the GCC’s biggest economy, needs an oil price of $96.20 per barrel to balance its books, thanks in large part to MBS’ ambitious Vision 2030.
GCC Oil and Gas Market Analysis by Sector, Projects ... - GlobalData
Dec 12, 2024 · The Gulf Cooperation Council oil and gas market report provides a comprehensive overview of the crude oil and natural gas supply and demand outlook for GCC countries till 2030. The report also offers in-depth insights into the sectoral demand for natural gas in …
GCC countries hold top spot in crude oil production, reserves, and ...
Feb 15, 2025 · Despite a 6.8% dip in overall GCC crude production last year, the region still averaged 17 million barrels per day (bpd) in 2023, constituting 23.2% of total global output. GCC nations also command a formidable 32.6% of world crude oil …
GCC Oil And Gas Producers' Capex Cooldown Won't Fire Up …
Apr 15, 2024 · Growth in aggregate spending by national oil companies in Gulf Cooperation Council (GCC) countries, albeit still relatively high, will slow from 2024, compared with the previous two years.
GCC economy to grow at 4.5% in 2025 on oil support | AGBI
Dec 23, 2024 · The expected GCC growth will be due to higher oil production, as Opec+ has gradually liberalised production quotas in 2024 The GDP of the six Gulf Cooperation Council (GCC) countries is forecast to grow at a higher pace in 2025 to reach 4.5 percent.
GCC Leads Global Energy Rankings in Oil Production, Reserves, …
Feb 15, 2025 · The GCC countries’ crude oil reserves in 2023 amounted to about 511.9 billion barrels, representing 32.6 percent of the total global crude oil reserves, recording an average annual growth rate of 0.3 percent during the period from 2014 to 2023.
The Oil and Gas Industry in the Gulf Cooperation Council (GCC ...
Sep 21, 2024 · Overview of GCC’s Oil and Gas Sector. The GCC region is renowned for its immense oil and gas reserves, which drive its economic strength and global influence. Oil Reserves and Production: The GCC countries collectively hold a substantial portion of the world’s proven oil reserves.
GCC-Stat Data Portal
The energy database provides the most important annual statistics related to energy in the GCC countries, which include crude oil (crude oil production, crude oil reserves, oil derivatives production, oil derivatives consumption) natural gas (marketed natural gas production, natural gas reserves) electricity (electricity production, electricity ...