Which countries rely on libya for oil

Economists say the inflation could be long-lasting. World-renowned leadership expert, Michael Useem, has developed a checklist that includes 16 mission-critical principles to make good and timely decisions. I accept. These are the countries that depend most on oil income. Take action on UpLink. Explore context. Explore the latest strategic trends, research and analysis.

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And like many other natural resources, oil cannot be produced, only extracted where it already exists. Unlike every other natural resource, oil is the lifeblood of the global economy.

The world derives over a third of its total energy production from oil, more than any other source by far. The countries on this list span five continents and control anywhere from Property taxes: Which states have the highest and lowest property taxes? In most cases, oil has been an economic boon for the countries on this list. Often, due in large part to oil production, many of these places rank among the most productive countries in the world. If mismanaged, however, oil wealth can also be a curse.

Having a diversified economy is always prudent, and many countries on this list are overly dependent on their oil wealth. In one extreme case, the economic collapse triggered by an over-dependence on oil created a crisis so severe, it is now one of the 14 countries the U. Government does not want you to visit. One of two South American countries on this list, Brazil's proven oil reserves total Oil production in Brazil climbed by Petrobras, a publicly held energy company, is the largest oil producer in the country, operating 13 of the 17 refineries in Brazil.

Qatar is a small Middle Eastern nation of less than 3 million people. With a small population, and a wealth of oil — over Oil revenue helps finance public works and services in the country. The country's decision to leave the intergovernmental organization was a strategic one in the face of OPEC's waning global influence, according to Qatari officials. Spanning about 3. The most populous country in the world, China relies more on oil than every country other than the United States for its energy needs.

China burned about million tons of oil in alone. They are two of China's and the world's largest energy companies. Due in part to its domestic energy demand, China also imports oil. Kazakhstan is a massive country of about 1 million square miles, roughly the size of Western Europe.