World Economies In Trouble: Middle East Oil Exports Lower Than 40 Years Ago
December 07, 2016 at 04:24 AM EST
In the past 40 years, Middle East domestic oil consumption surged more than six times from 1.5 million barrels per day (mbd) in 1976, to 9.6 mbd in 2015. This had a seriously negative impact on rising Middle East oil production.
