Introduction The growth of the Saudi Arabian economy can largely be attributed to the oil industry of this country, especially petrochemical production and petroleum refining. In 2007, oil products constituted 88, 1 percent of the total export ( 1 The United Nations, 2010, p. 322). At the given moment, Saudi Arabia is among the fastest-growing economies in the Middle East. This is as a result of the rapid growth in population and large scale projects that have been emerging over the last few decades. Domestic consumption has been affected by the rise in oil prices. Currently, this country is the largest oil producer in the world. In 2007 Saudi Arabia produced 12,8 percent of the world’s oil output ( 2 Olah, Goeppert, & Prakash 2009, p. 38). The country produces so much oil that is capable of meeting its domestic needs. The surplus is normally exported to overseas markets. Saudi Arabia has become is currently the biggest producer of oil and as a result, it plays a critical role in determining the demand and supply of the product. Due to the high level of dominance that Saudi has in the oil industry, the country plays a critical role in the determination of the world oil prices. On the whole, oil production is the main sector of the country’s economy. These products play a critical role in the growth, development, and control of Saudis economy. However, the industry is highly mechanized and as a result, it does not require high human labor. This, therefore, states that it does not provide enough employment to the local people. It should be noted that Saudi oil-producing companies occupy leading positions in the world. This argument can be illustrated with the help of this chart. The production of crude oil reached a peak of 9.9 million barrels per day in 1980 and began to decrease (4 Federal Research Division 2004, p. 183). The production was later hindered by the war between Iran and Iraq in 1985 (5 Federal Research Division 2004, p. 183). Since that time the country’s oil output began to increase. The country was able to increase its share in the global oil industry after the international embargo on Kuwaiti and Iraqi oil; in 1991 average daily output was 8.5 million barrels per day (6 Research Division 2004, p. 183). Since that time, Saudi Arabia has turned into the most important oil producer in the world. The government of this country aims to other oil reserves located in this country such as Shaybah Field which is near the border with the United Arab Emirates (7 Cordesman 2003, p. 81). Additionally, one can mention such reserves as the Abu Hadriya or Khurais Fields. Each of them can significantly contribute to the production of oil in this country. Moreover, it was announced that the country will attempt to raise its production level to a record-breaking height, namely 12, 5 barrels per day (8 Weisenbacher 2009 p. 642). Although many analysts are skeptical about these plans, they indicate that the government of Saudi Arabia intends to become the main leader in the production of crude oil. Although production levels decreased slightly at the end of 2008, the government officials are still convinced that the country’s oil-producing facilities will be able to achi