Saudi Arabia: All the countries of the world are such that depend on those countries for petroleum where it is produced in large quantities. India is also included in those countries. A major part of our total imports is spent on petroleum. The availability of oil is necessary for all the important works from the country’s economy to transportation. Countries that produce oil earn a lot of profit through it. One such oil producing country is Saudi Arabia. About which we will tell you how huge profit this country earns in the export of oil.
Oil sold by barrel
Oil prices are determined on a per barrel basis. This is the standard of oil measurement. Where one barrel is considered equal to about 159 liters of oil. However, now new methods of oil measurement are being introduced.
So much is the cost of production-
According to an estimate, the production of a barrel of oil in Saudi Arabia costs only about $ 2, while selling it up to $ 100 per barrel. In the past, the price of crude oil had become very high in the international market. Due to the rise in prices, there has been a huge jump in the prices of oil per liter in all such countries including India, where oil is imported in large quantities.
Exploring option-
However, as an alternative to petroleum, all countries including India are turning to solar energy and other options of green energy. Not only can they prove to be a sustainable source of energy, but they are also a better option from an environmental point of view. Significantly, petroleum products emit carbon dioxide. Due to which there is extensive damage to the environment.
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