Oil and Saudi Arabia

Saudi Arabia 's royal family, the foreign policy of the United States, and the current poverty that is spreading in Saudi Arabia Current world dependence on oil is doing a lot about the influence of Saudi Arabia and Middle East on foreign policy and international politics. Currently, as the world's largest oil consuming country, the United States relies heavily on Saudi Arabia and the Middle East to operate its business, family and most importantly cars. In recent months

Saudi Arabia's huge oil reserves not only brought huge income to the country but also increased the importance of Saudi Arabia to the world. At the same time as industrialization, Europe relied on Saudi Arabia, but today the flow of oil has become a prerequisite for the stability of the world economy. Saudi Arabia is the only major oil producing country with large-scale crude oil production capacity and Saudi Arabia's oil production and investment policy has a strong influence on international oil price and supply, so it is important for internationally important problems Has become. Therefore, the actual revenue source of Saudi Arabia is still income from oil exports and trade.

Petroleum is the most important feature of Saudi Arabia - the world's leading oil exporters. Saudi Arabia reserves exceed 260 billion barrels, more than a quarter of world supply. Through the oil spikes in 1973, Saudi Arabia began accumulating huge cash reserves. The government uses this newly discovered wealth for diversifying the industrial base and improving its basic economic structure. Saudi Arabia has maintained a close relationship with the United States since its founding. In 1945, it joined the LJN, which opposed the establishment of Israel, which played a minor role in the fight in 1948. The only significant Arab conflict between Saudi Arabia and Afghanistan. Saudi Arabia fully supported Nasser, dispatched 20,000 soldiers and stopped exporting oil to the United States and the United Kingdom, it seems that the war of the sixth has corrected this relationship. However, diplomatic relations with the United States have never been broken.

Because the United States is Saudi Arabia's largest trading partner and Saudi Arabia is one of the United States's largest trading partners in the Middle East, the United States and Saudi Arabia have strong economic relations. Saudi Arabia is the second largest source of imported petroleum in the United States and supplies over 1 million barrels of oil a day to the US market. The United States and Saudi Arabia have signed a trade and investment framework agreement. Saudi Arabia launched its 203-year vision plan in April 2016 to formulate plans to achieve economic diversification, including increased trade and investment with the United States and other countries.