The graph provides a data snapshot of the past, present, and future of global oil output in both OPEC and non-OPEC nations. These numbers show the expected oil production. While the number is anticipated to reduce in certain OPEC nations, it is anticipated to rise dramatically in those located in the Middle East.
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The majority of the world’s oil was sourced from non-OPEC countries between 1980 and 2000. The OPEC nations, on the other hand, barely produced two million barrels per day. These numbers have significantly changed since that time. The projection further indicates that between 2000 and 2010, 10 million barrels will come from Middle Eastern OPEC countries and 10 million barrels will come from non-OPEC or OPEC countries.
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Although experts predict that oil output will stabilize between 2010 and 2020, a large portion of it is projected to originate from the OPEC countries in the Middle East. 5 million barrels per day are anticipated to be obtained from other sources.
In conclusion, the data unequivocally demonstrate that Middle Eastern OPEC countries’ oil production has increased significantly over time.