Band 5+: You should spend no more than 20 minutes on this task. The first line graph shows the average world oil price for each year from 1970 to 2005. The second chart shows the top seven oil exporting countries and how much they export each day. Write a report for a university lecturer describing the information. You should write at least 150 words.

The line graphes present changes on oil prices throughout the 35 – year period, top seven oil- exporting countries and the amount of oil they export. Overall,Saudi Arabia emerged as the largest export market and in the mid 1980s oil prices indicated the highest amount.

Beginning from 1970 to 1975 world oil prices sharply increased from nearly 10 to 45 respectively. After remaining steady until the end of 1970, prices gradually increased and reached nearly 90, the biggest amount in 1980. Following years prices saw noticable downward trend, they fell until 29 in 5 year period. After modest fluctuations, the lowest price was 15 in the end of 1990s. In 2000s onwards prices began moderatly increasing.

Turning to Oil-Export, 4 countries Nigeria, the UAE, Iran and Norway slightly exceed 2 Millions of Barrels per day, with Norway on the top. Meanwhile, Russia as the second biggest exporter reached around 6,5 millions of barrels. With regard to biggest amount, 9 millions of Barrels were exported by Saudi Arabia.