It isn’t just about the pumping. You can pump crude all day and still be broke. Look at several of the middle east smaller countries or even most south America pumpers. The refining is where the industry and money is really at. Cars don’t burn crude oil, it has to get refined. Plastics don’t come out of the ground, they have to get refined. Saudi Arabia is the world’s largest crude oil exporter and they still have to rely on others to refine.
In fact, here is a direct quote from OEC-
“In 2021, Saudi Arabia imported $7.43B in Refined Petroleum, becoming the 27th largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 2nd most imported product in Saudi Arabia. Saudi Arabia imports Refined Petroleum primarily from: India ($2.17B), Greece ($1.09B), Russia ($892M), United Arab Emirates ($835M), and Egypt ($689M).”
I am sure it will but India isn’t even in the top 10 of country’s pumping the most.
It isn’t just about the pumping. You can pump crude all day and still be broke. Look at several of the middle east smaller countries or even most south America pumpers. The refining is where the industry and money is really at. Cars don’t burn crude oil, it has to get refined. Plastics don’t come out of the ground, they have to get refined. Saudi Arabia is the world’s largest crude oil exporter and they still have to rely on others to refine.
In fact, here is a direct quote from OEC-
“In 2021, Saudi Arabia imported $7.43B in Refined Petroleum, becoming the 27th largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 2nd most imported product in Saudi Arabia. Saudi Arabia imports Refined Petroleum primarily from: India ($2.17B), Greece ($1.09B), Russia ($892M), United Arab Emirates ($835M), and Egypt ($689M).”