The Middle East holds 62 percent of the world's proven oil reserves (2008)
- In the 1970s, international companies had unrestricted access to 85 percent of the world's known oil reserves at the time
- The world crude oil production grew from 21 million barrels per day in 1960 to 56 mbd in 1973, a growth of 166%
- Developed industrialized countries consume around 43 millions oil barrels daily on an average while developing countries consume 22 million (2008)
- After the Second World War, the business was dominated by a small group of very powerful companies (the Seven Sisters): Standard Oil of New Jersey, which become Exxon; Royal Dutch Shell; British Petroleum; Standard Oil of New York, or Socony, which became Mobil; Standard Oil of California, or Socal, later Chevron; Gulf Oil; and Texaco
- As of 2008, China imports about half its oil supplies from the Middle East and one-third from Africa
- Angola exported roughly 465,000 barrels of oil per day to China in the first six months of 2007
- During the Oil Crisis of the 1970s, oil spiked at a nominal peak of $38. In today's prices (adjusted for inflation), that is $106, a figure that we blew past in early 2008
- Over the last decade, the price of oil has taken a roller coaster ride, rising steadily from 2002 to 2007, soaring in 2008 to a peak of $147 a barrel before plummeting to $33 just five months later as the global economic meltdown suppressed demand (2009)
- In 1973, oil accounted for 46 percent of the world's total energy consumption; by 2005, its share had declined to 35 percent
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