oil-exporting countries

Oil-exporting countries are nations that produce more oil than their domestic needs and sell the excess to other countries. They generate significant revenue from these exports, which can fund public services and infrastructure. Examples include Saudi Arabia, Russia, and Venezuela. Their economies often depend heavily on oil prices; when prices rise, revenue increases, boosting economic stability. Conversely, falling oil prices can cause economic challenges. These countries may invest in diversifying their economies but remain closely tied to global energy markets. Their economic stability and growth are influenced by global demand, production levels, and geopolitical factors.