3. Iraq
Total score – 42
Iraq is next on our list of countries most reliant on oil, with an extremely high dependency on oil. In 2013, the World Economic Forum estimated the country’s fuel exports at 99.8% of all merchandise exports. Similarly, oil rents for 2014 amounted to 41.4% of Iraq’s GDP.
Member of OPEC, Iraq has crude oil reserves that amount to over 142 billion barrels. Its production is of 3.5 million barrels per day, while the refinery capacity doesn’t reach a million barrels per day.
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