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Commodities at a Glance

Special Issue on Energy

image of Commodities at a Glance

The series “Commodities at a Glance” aims to collect, present and disseminate accurate and relevant statistical information linked to international primary commodity markets in a clear, concise and reader-friendly format. This quarter’s edition of UNCTAD’s Commodities at a Glance describes world energy trade, price, production and consumption trends, with a particular focus on Africa.

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Facts and figures: Crude oil

OPEC countries account for more than 77 per cent of proven crude oil reserves in 2010. Five countries in the Middle East, namely Saudi Arabia, Iran, Iraq, Kuwait, United Arab Emirates and Qatar, hold about two-thirds of the OPEC total and account for the half of the world total. In addition to these, a few countries in Africa –Angola, Nigeria and Libya; North America – Canada and the United States; and Europe and Eurasia – the Russian Federation and Kazakhstan; make the greatest contribution to world reserves estimated at 1.383,2 trillion barrels in 2010. At current rates of production, these reserves are expected to be depleted in 46 years, which raises concerns about the future of crude oil in supplying future primary energy needs (see Figure 6).

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