Thread by @AJEnglish

Did you know Russia is the world’s second-highest exporter of crude oil after Saudi Arabia?

We look at the global oil industry and Russia’s part in it 👇

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Following Russia’s invasion of Ukraine, tough sanctions on Moscow caused oil prices to reach unprecedented highs not seen since the 2008 financial crisis.

Biden’s ban on Russian energy imports means the effects will be felt worldwide.

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The countries that rely most on Russian oil include: Belarus, Cuba, Curacao, Kazakhstan and Latvia – each importing more than 99% of their crude oil from Russia.

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Crude oil is a yellowish-black fossil fuel that is pumped out of the ground.

Petrol, diesel and various other fuels are derived from crude oil, as well as our household products including plastics, detergents and clothing.

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In 2020, the largest oil producer in the world was the US. Saudi Arabia came in second, followed by Russia, Canada and China.

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Venezuela, Saudi Arabia, and Iran have half of the world’s 1.55 trillion barrels of proven oil reserves.

In 2019, the US alone consumed about one-fifth of the world’s daily oil consumption.

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Here's more on what you need to know about the Russian oil industry 👇 aje.io/vrbyw5