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 provided charts display the trend of oil price between 1970 and 2005, and the top seven oil-exporting countries as well as its amount they exported per day.

Overall, the average cost of world oil was fluctuated over the given period. In addition, the production of this natural resource in 2005 was dominated by Middle-East countries in spite of the fact that the list consisted of nations came from three different continents.

In the first decade, the world oil price increased considerably by almost fivefold from 1970 to 1980, which reached the peak slightly below 90. This number then drop significantly in 1985 at approximately 30 before its small climb by 35 in 1990. Subsequently, the price was roughly fluctuated in the next two decades before it rose gradually prior to 2005 at above 45.

In 2005, the Middle-Eastern nations including Saudi Arabia, Iran, and United Arab Emirates, accumulatively accounted for around 14 Millions of Barrels per day worldwide, particularly nine Millions from Saudi Arabia which made them as the highest oil-exporting countries. This is followed by Russia which exported more than 6 Millions of Barrels per day. The other two areas, Norway and Nigeria, had almost two times less than the amount of the Russian by around 2.5 Million of Barrels per day from each countries.