US pressures Saudi Arabia to sell oil in dollars, not Chinese yuan
Geopolitical Economy Report
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The Importance of Saudi Arabia's State Owned Oil Company
As of 2022, Saudi Arabia was the second largest oil producer in the world representing 12% of global oil production. In first place was the United States representing 20% ofglobal oil production. It was the Barack Obama administration that massively increased oil and gas production in the U.S.
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