Record-breaking oil production in Persian Gulf

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Oil8In quarter 3, 2013 four countries of the Persian Gulf – Qatar, Kuwait, United Arab Emirates and Saudi Arabia – increased daily oil production up to 16.4 million barrels – a record-breaking index, wrote London-based Financial Times newspaper on Monday.
Thus, from July to September, 2013 the Arabic countries have made $150 billion on oil export. In September 2013 18% of demand in oil fell to their share. The growth of index allowed four countries of the Persian Gulf increasing oil deliveries to the rapidly developing Asian market. Export to India and China has significantly increased.
Therefore, Kuwait, Qatar, UAE and Saudi Arabia respond to the US challenge, which is going to put efficient technology of shale oil and gas production into commercial operation, reads the newspaper. “Despite the shale revolution, Near East will remain the centre of the world oil industry for a certain period,” said Fatikh Birol, senior economic of the International Energy Agency (IEA), reported http://www.itar-tass.com.

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