Challenges to the Arab petroleum industry

The Arab oil industry provides on a steady basis approximately 20 million b/d of crude oil, compared to the global consumption of around 85 million b/d. Arab oil producers are committed to ensure stable oil markets and to balance global supply and demand, despite the many political crises in the region. The industry faces many challenges: dealing with stringent environmental standards, and providing the finance for its maintenance and expansion to meet rising world demand, as well as integrating its activities with the local economies through enhancing research and development, training and providing employment for nationals.