What countries produce the most crude oil
What countries produce the most crude oil, great question to ask because not all countries are rich in natural petrol reserves. Only a few nations have rich petrol reserves, which can take care of their own needs and the requirements of other countries. Based on the number of crude oil barrels extracted daily and the statistics offered by the EIA (Energy Information Administration), the top ten oil producing countries are the following.
Saudi Arabia
It ranks first among the top ten oil drilling countries in the world. It produces 11,726 thousand crude oil barrels every day, and has the second largest oil reserves on Earth. Nations like US and China are consumers.
By 1976, Saudi Arabia had become the largest oil producer in the world.[57] Khalid’s reign saw economic and social development progress at an extremely rapid rate, transforming the infrastructure and educational system of the country;[37] in foreign policy, close ties with the US were developed
United States
It is the 2nd largest producer of oil in the world and produces 11,115 thousand crude oil barrels every day. In 2012, it was found to have reserves of approximately 30 billion barrels. But US also ranks the first among the top ten countries of fossil fuel consumption, it has to import a lot of oil from other nations.
The United States energy market is about 29,000 terawatt hours per year. Energy consumption per capita is 7.8 tons of oil equivalent per year, the 10th highest rate in the world. In 2005, 40% of this energy came from petroleum, 23% from coal, and 22% from natural gas. The remainder was supplied by nuclear power and renewable energy sources. The United States is the world’s largest consumer of petroleum.
Russia
It is the 3rd largest producer of oil, and is estimated to produce 10,397 thousand crude oil barrels each day. In 2012, it was proven to have reserves of 60 billion barrels.
In recent years, Russia has frequently been described in the media as an energy superpower. The country has the world’s largest natural gas reserves, the 8th largest oil reserves,[205] and the second largest coal reserves. Russia is the world’s leading natural gas exporter and second largest natural gas producer, while also the largest oil exporter and the largest oil producer.
https://en.wikipedia.org/wiki/Russia
China
The 4th largest oil producer, it produces 4,416 thousand crude oil barrels on a daily basis. It has proven 20.4 billion barrel reserves, as was found out in 2012. It is also the worst air pollution regions of the world, as was found in a 2015 study.
According to the Global Growth Generators index announced by Citigroup in February 2011, China has a very high 3G growth rating. Its high productivity, low labour costs and relatively good infrastructure have made it a global leader in manufacturing. However, the Chinese economy is highly energy-intensive and inefficient; China became the world’s largest energy consumer in 2010, relies on coal to supply over 70% of its energy needs, and surpassed the US to become the world’s largest oil importer in September 2013.
https://en.wikipedia.org/wiki/China
Canada
It ranks 5th among the global oil producers, and produces 3,856 thousand crude oil barrels every day. It has proven reserves of 173.6 billion barrels, the 3rd largest in the globe.
Canada is one of the few developed nations that are net exporters of energy. Atlantic Canada possesses vast offshore deposits of natural gas, and Alberta also hosts large oil and gas resources. The vastness of the Athabasca oil sands and other assets results in Canada having a 13% share of global oil reserves, comprising the world’s third-largest share after Venezuela and Saudi Arabia
https://en.wikipedia.org/wiki/Canada
Iran
Among the OPEC (Organization of Petroleum Countries), it stands as the 2nd largest producer of oil. The 6th largest oil producer globally, it generates about 3,589 thousand crude oil barrels on a daily basis. Consumers include US, India and China.
Iran has the second largest proved gas reserves in the world after Russia, with 33.6 trillion cubic meters, and third largest natural gas production in the world after Indonesia, and Russia. It also ranks fourth in oil reserves with an estimated 153,600,000,000 barrels. It is OPEC’s 2nd largest oil exporter and is an energy superpower.
https://en.wikipedia.org/wiki/Iran
United Arab Emigrates
It produces 3,213 thousand crude oil barrels every day. In 2012, its crude oil reserves were said to be 97.8 billion barrels, most of them in Abu Dhabi. Consumers include US, Canada and India.
Although UAE has the most diversified economy in the GCC, the UAE’s economy remains extremely reliant on oil. With the exception of Dubai, most of the UAE is dependent on oil revenues. Petroleum and natural gas continue to play a central role in the economy, especially in Abu Dhabi.
Iraq
It has the 3rd third-largest global oil reserves and produces 2,987 thousand crude oil barrels daily. It has 143.1 billion barrels in reserves, as estimated in 2012.
Iraq’s economy is dominated by the oil sector, which has traditionally provided about 95% of foreign exchange earnings. The lack of development in other sectors has resulted in 18%–30% unemployed and a depressed per capita GDP of $4,000.
https://en.wikipedia.org/wiki/Iraq
Mexico
It produces 2,936 thousand crude oil barrels each day, and its proven oil reserves amount to 10.4 billion barrels – as in 2012. Consumers include EU, Japan and Spain.
Mexico is the sixth-largest oil producer in the world, with 3.7 million barrels per day.[191] In 1980 oil exports accounted for 61.6% of total exports; by 2000 it was only 7.3%
https://en.wikipedia.org/wiki/Mexico#Energy
Kuwait
Every day, it produces 2,797 thousand crude oil barrels and it has the 6th largest oil reserve globally. It has proven reserves of 104 billion barrels.
From 1946 to 1982, Kuwait experienced a period of prosperity driven by oil and its liberal atmosphere. In popular discourse, the years between 1946 and 1982 are referred to as the “Golden Era”. In 1950, a major public-work program began to enable Kuwaitis to enjoy a modern standard of living. By 1952, the country became the largest oil exporter in the Persian Gulf region. This massive growth attracted many foreign workers, especially from Palestine, Egypt and India.
https://en.wikipedia.org/wiki/Kuwait
Importers include India, Canada and China.
What countries produce the most crude oil was the question of this article and I hope the question was answered with the above article and the links provided to the ever reliable public domain Wikipedia resources of information. Thank you for visiting Arctic treaty.com website and come again sometime soon.
Leave a Reply