according to the chart, which country has the comparative advantage in oil production?,

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mi, promotion, sasketchewan @ Pixabay

What Countries Have the Largest Benefit From Oil Production? Countries that have large percentages of oil production in relation to their total GDP are located in the Middle East. The countries with the most oil production benefits are Kuwait, Saudi Arabia and Iran.

oil rig, oil platform, oil @ Pixabay

These three countries make up approximately 30% of all global crude oil output each year. Countries with the lowest percentage of oil production in relation to their total GDP are located Europe and North America. The countries with the lowest percentages include Spain, Ireland, United Kingdom and Germany. These three countries make up less than two percent each year. The chart shows that Kuwait has a higher percentage of crude oil output relative to its gross domestic product (GDP) than any other country on Earth: more than five times as much, at 11%. Saudi Arabia is not far behind; it produces around eight-and-a-half times as much petroleum per dollar spent in annual economic activity as does France or Italy—or about ten times what Iran achieves relative to its GDP.” Accordingly, if you were an

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