The Most Oil Producing Country In The World

Today we have to talk about the countries that produce oil. According to some data, the total world oil production in 2019 averaged 80,622,000 barrels per day. In recent times, Saudi Arabia, Iran and the United States have been among the top three producers in the world. Russia and Saudi Arabia are also among the top oil exporters. So let's gather a little more information about the countries that produce oil.

1. United States

Petroleum and oil have been a major industry in the United States since the discovery of oil in the Titusville Oil Creek area of ​​Pennsylvania in 1859. By 2019, the United States will be the world's largest oil producer. Oil production in this country increased from 17,886,000 bpd in 2018 to 19,510,000 bpd. In 2019, 9% of the petroleum used by the United States was imported.

This country has been described as a producer of oil because its production fluctuates with market prices. In addition to being a major producer of oil and petrol, the United States is a major consumer of oil. The International Energy Agency predicts that the United States will continue to be the largest source of new supplies.

Production : 19,510,000 bpd

2. Saudi Arabia

The country ranks second in the world in proven oil reserves, according to the report. The country's oil and petrol production fell to 12,419,000 bpd in 2018 and to 11,810,000 bpd in 2019. Oil production in Saudi Arabia is mainly in the Eastern Province. Oil reserves in Saudi Arabia account for about one-fifth of the world's conventional oil reserves. The country's proven oil reserves are at least 270 billion barrels.

This country is known as the largest exporter of petroleum. Saudi Arabia's oil and gas sector accounts for about 50 percent of its GDP and about 85 percent of its export earnings. The U.S. Geological Survey estimated that the remaining undiscovered oil reserves in this country averaged 90 gbbl.

Production : 11,810,000 bpd

3. Russia

Russia accounts for 4.8% of the world's oil. This country consumes 3,631,287 barrels per day as of 2016. Russia ranks fifth in the world in oil consumption, and Russia accounts for about 3.7% of the world's 97,103,871 barrels per day. This country produces about 5.1% of its total proven reserves each year.

This country exports 45% of its oil production. The country is also the world's largest producer of crude oil and the second largest producer of dry natural gas. Most of Russia's reserves are located in the Ural Mountains, in western Siberia and between the Central Siberian Plateau and the Urals-Volga region, which stretches across the Caribbean Sea.

Production : 11,490,000 bpd

4. Canada

This country increased its annual oil production to 5,500,000 bpd in 2019. 95% of Canada's reserves are in oil and sand reserves in the province of Alberta. Alberta has almost all of the country's oil sands and its conventional oil reserves. Alberta holds 39% of the rest of the country's conventional oil reserves. Canada is ranking 4th in the list of oil producing countries. Canada is both an importer and exporter of oil and refined products. More than 99% of Canadian oil exports go to the USA.

Production : 5,500,000 bpd

5. China

China accounts for about 1.5% of the world's total oil reserves with 1,650,585,140,000 barrels. This country ranks second in the world for oil consumption. China accounts for 13.2% of the world's total daily consumption of 97,103,871 barrels. This country became the largest net importer of oil in 2014. This country produces about 7.1% of its total proven reserves each year. China imports 59% of the country's oil consumption.

Production : 4,890,000 bpd

6. Iraq

The country's oil reserves are the world's fifth-largest proven oil reserves and Iraq has 140 billion barrels. Iraq's oil production has risen marginally from 4,616,000 bpd in 2018 to 4,740,000 bpd. This country consumes 857,000 barrels of oil by the year 2016. This has proved to be 457.4 times the reserves of the country's annual consumption. This country consumes 0.98 gallons of oil per day. This country produces about 1.1% of its proven oil reserves each year.

Production : 4,740,000 bpd

7. United Arab Emirates

This country has 97,800,000,000 barrels of proven oil reserves as of 2016. The United Arab Emirates accounts for 5.9% of the world's oil. This country consumes 896,000 barrels per day as of 2016. This country produces 3,772,788.27 barrels per day. The United Arab Emirates has the seventh largest proven oil reserves in the world. Most of this country's oil reserves are in Abu Dhabi. This country exports 66% of its production.

Production : 4,010,000 bpd

8. Brazil

The country has proven oil reserves of 16,184,100,000 barrels as of 2016. This country has about 1.0% of the world's total oil reserves. This country consumes 0.61 gallons of oil per day. The country's oil production in 2018 has risen dramatically from 3,428,000 bpd to 3,678,000 bpd. Brazil produces about 7.3% of its total proven reserves each year. Oil and other liquid fuels account for the largest share of the country's total energy consumption. This country exports about 20% of its oil production.

Production : 3,678,000 bpd

9. Iran

This country has about 10% of the world's total proven petroleum reserves. This country has proven reserves equal to 239.2 times its annual consumption. Iran's oil production has been declining for some time, falling from 4,471,000 bpd in 2018 to 3,190,000 bpd. The country is expected to consume 1,803,999 barrels of oil by 2016. Iran exports 43% of the country's oil production.

Iran is the 12th largest oil consumer in the world. This country is the 7th largest producer of 4,376,194.36 barrels of oil per day in the world. Iran's name country has the world's 2 largest natural gas reserves. This country produces 1.0% of its total proven reserves each year. U.S. sanctions and territorial disputes have focused on the country's energy production sector.

Production : 3,190,000 bpd

10. Kuwait

This country saw a fund of 101,500,000,000 barrels by 2016. And Kuwait's oil production reached 3,072,000 bpd and then fell to 2,825,000 bpd in 2017. Kuwait's oil reserves account for 6.1% of the world's total. As of 2016, this country consumes 359,000 barrels of oil. This country is ranking 39th in the world in terms of oil consumption. Kuwait accounts for 0.4% of the world's 97,103,871 barrels per day. Its oil and gas sector accounts for about 60 per cent of the country's GDP and about 95 per cent of its export earnings.

Production : 2,940,000 bpd

List of Other Countries by Oil Production

Brazil 2,515,459
Algeria 1,348,361
Oman 1,006,841
Libya 1,003,000
United Kingdom 939,760
Colombia 897,784
Kazakhstan 1,595,199
Qatar 1,522,902
Indonesia 833,667
Azerbaijan 833,538
India 715,459
Egypt 686,000
Malaysia 661,240
Ecuador 548,421
Papua New Guinea 56,667
Uzbekistan 52,913
Bahrain 50,000
Cuba 50,000
Turkey 49,497
Argentina 510,560
Romania 504,000
Congo-Brazzaville 308,363
Vietnam 301,850
Australia 289,749
Thailand 257,525
Equatorial Guinea 227,000
Gabon 210,820
South Sudan 157,000
Denmark 140,637
Chad 110,156
Brunei 109,117
Ghana 100,549
Cameroon 93,205
Pakistan 80,000
Italy 70,675
Sudan 70,000
East Timor 60,661
Trinidad and Tobago 60,090
Bolivia 58,077
Netherlands 18,087
Suriname 17,000
France 16,418
Austria 15,161
Myanmar 15,000
Hungary 13,833
Croatia 13,582
Niger 13,000
Albania 22,915
Yemen 22,000
Poland 20,104
Serbia 20,000
Congo-Kinshasa 20,000
Philippines 20,000
Venezuela 2,276,967
Mexico 2,186,877
Nigeria 1,999,885
Angola 1,769,615
Norway 1,647,975
Tunisia 48,757
Germany 46,839
Peru 40,266
New Zealand 35,574
Ukraine 31,989
Syria 30,000
Côte d'Ivoire(Ivory Coast) 30,000
Belarus 25,000
Mongolia 23,426

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