Who are the major players supplying the world oil market?

The world oil market is complex. Governments as well as private companies play roles in moving oil from producers to consumers. Government-owned national oil companies (NOCs) control most of the world’s proved oil reserves (78% in 2012) and oil production (58% in 2012). International oil companies (IOCs), which are often stockholder-owned corporations, make up the balance of global oil reserves and production. View full post on EIA’s Energy in Brief: What everyone should know about energy

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