Question

If the organization of the Petroleum Exporting Countries were to reduce oil production what would most likely happen to the economy of Saudi Arabia

Answer 1

Answer:

This would impact the government and the private sectors.

Explanation:

• The OPEC nations share the largest oil reserves with the rest of the world nd have been hard hit by the oil crisis due to the climate change and global warming along with the spike in the prices of the oil.

• Due to high growth and demand of oil of the there is a reduction in production oil the economy of the middle east nations and those of Saudi Arabia would suffer losses. As 90% of the exports are made by the industry.