Which of the Following Countries Has the Largest Percent of the World's

question 37

Multiple Choice

Which of the following countries has the largest percent of the world's proven oil reserves?

• A)Iraq
• B)Kuwait
• C)Iran
• D)United Arab Emirates
• E)Saudi Arabia

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Definitions:

Present Value

Today’s value of some amount of money that is to be received sometime in the future.

$50 Barrel

A pricing level for a barrel of crude oil, often used as a reference for energy market analysis and economic forecasting.

Extracting Oil

The process of removing crude oil from the earth through drilling or other methods to use as an energy source or in various industrial applications.

Shale

A fine-grained sedimentary rock that can contain significant amounts of oil and natural gas within its layers.