Which Country is Largest Producer of Oil?

Top Oil Producing Countries

Countries Rich in ‘Black Gold’

United States is currently the world’s second largest producer of oil. It aims to be the first in next few years.

Today oil is one of the world’s biggest needs to move all industries. Countries with largest reserves can guarantee supply to at least another century. But in ten years, with further discoveries of new oil deposits, the picture can change dramatically.

According to estimates by the International Energy Agency (IEA), United States aims to be the number one producer of oil in next two years, overtaking Saudi Arabia. Thanks to the hydraulic drilling of gas and oil, bringing energy revolution in North America.

While in proven oil reserves, the Middle East continues to produce the biggest share of ‘Black Gold’. In 2016, reserves in these countries accounted for total of 807,000 million barrels out of 1.6 billion worldwide, according to the Statistical Review of World Energy 2016 by British Petroleum.

In 2014, US production rose by 1.6 million barrels a day – the largest increase at a global level and reached 11.6 million barrels per day, 15.9% more than in 2013 and over 139,000 more than Saudi Arabia. US thus became the first country to increase production by at least one million barrels a day for three consecutive years, which allowed it to meet 90% of its energy needs. Bob Dudley, British Petroleum’s chief economist has defined the US leadership as “a prospect that was unthinkable 10 years ago.”

We present the 50 countries with the largest oil production and largest reserves:

Countries with higher production

Countries Barrels per Day
1. Saudi Arabia 11740000
2. United States 11120000
3. Russia 10450000
4. China 4156000
5. Canada 3857000
6. Iran 3593000
7. United Arab Emirates 3214000
8. Iraq 2988000
9. Mexico 2937000
10. Kuwait 2798000
11. Brazil 2653000
12. Nigeria 2525000
13. Venezuela 2488000
14. Norway 1903000
15. Algeria 1876000
16. Angola 1874000
17. European Union 1865000
18. Kazakhstan 1607000
19. Qatar 1578000
20. Libya 1484000
21. United Kingdom 1008000
22. India 991200
23. Indonesia 975300
24. Colombia 968100
25. Azerbaijan 932900
26. Oman 924800
27. Argentina 724200
28. Egypt 721000
29. Malaysia 644700
30. Australia 518100
31. Ecuador 506500
32. Thailand 433300
33. Vietnam 364500
34. Equatorial Guinea 319000
35. Republic of Congo 222900
36. Turkmenistan 245100
37. Gabon 241000
38. Denmark 208400
39. Syria 183500
40. South Africa 182000
41. Germany 168500
42. Peru 161400
43. Yemen 157500
44. Brunei 142000
45. Japan 136500
46. Trinidad and Tobago 118300
47. Italy 113000
48. Chad 105500
49. Uzbekistan 103600
50. Romania 102600


Source: CIA World Factbook, 2016 estimates.

Countries with the largest reserves

 

Countries Barrels per Day
1. Venezuela    297700000000
2. Saudi Arabia    267800000000
3. Canada    174200000000
4. Iran    155600000000
5. Iraq    142400000000
6. Kuwait    105000000000
7. United Arab Emirates     96800000000
8. Russia     81000000000
9. Libya     49010000000
10.Nigeria     38200000000
11.Kazakhstan     30000000000
12.Qatar     26380000000
13.United States     20690000000
14.China     18300000000
15.Brazil     14150000000
16.Algeria     12100000000
17.Angola     10570000000
18.Mexico     10250000000
19.Ecuador      8210000000
20.Azerbaijan      7100000000
21.European Union      5567000000
22.Oman      5600000000
23.India      5477000000
24.Nigeria      5367000000
25.Egypt      4500000000
26.Vietnam      4300000000
27.Indonesia      4130000000
28.Malaysia      4000000000
29.South Sudan      3760000000
30.United Kingdom      3222000000
31.Yemen      3000000000
32.Argentina      2804000000
33.Syria      2600000000
34.Uganda      2400000000
35.Colombia      2100000000
36.Gabon      2000000000
37.Republic of Congo      1700000000
38.Chad      1600000000
39.Australia      1423000000
40.Sudan      1260000000
41.Brunei      1200000000
42.Guinea Equatorial      1100000000
43.Denmark       806000000
44.Trinidad and Tobago       728200000
45.Ghana       670000000
46.Turkmenistan       610000000
47.Romania       600000000
48.Uzbekistan       595000000
49.Peru       579100000
50.Italy       521200000


Source: CIA World Factbook, 2016 estimates.

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