Leading countries in oil production on the planet: Saudi Arabia, Russia, USA

2024 Author: Henry Conors | [email protected]. Last modified: 2024-02-12 02:55

Oil is the main energy resource of the planet today. It is no coincidence that it is also called black gold. Which countries are leading in oil production today in the world? You will learn about this from our article.

Global oil reserves

To answer the question: "which countries are leading in oil production today in the world?", one should clearly distinguish between the concepts of "oil reserves" and "oil production".

Under the world's oil reserves, scientists mean the amount of resource that can be extracted from the bowels of the earth with the modern development of technology. There are several classifications of these reserves: they can be explored, estimated, prospective, estimated estimated, etc.

There are several units of measurement for global oil reserves. So, in Russia and the UK, tons are used to evaluate this resource, in Canada and Norway - cubic meters, in many other states - barrels.

The total reserves of "black gold" on the planet today are estimated at 240 billion tons. About 70% of these worldreserves are concentrated in OPEC countries - an intergovernmental organization that unites a number of oil-producing states.

The top five countries in terms of oil reserves (as of 2014) are as follows: Venezuela, Saudi Arabia, Canada, Iran and Iraq.

Top 10 oil producing countries

According to one of the versions of scientists, for the first time this energy resource was extracted from the earth in the eighth century. It happened on the Absheron Peninsula. Which countries are leading in oil production in the modern world?

The well-known researcher of the dynamics of world oil production V. N. Shchelkachev highlighted the year 1979. Prior to this chronological milestone, the extraction of this resource doubled every decade. But after 1979, the growth rate of planetary oil production slowed down significantly.

So, the leading countries in oil production today (percentage of global oil production is indicated in brackets):

• Saudi Arabia (12.9%);
• Russia (12, 7);
• USA (12, 3);
• China (5, 0);
• Canada (5, 0);
• Iran (4, 0);
• UAE (4, 0);
• Iraq (3, 8);
• Kuwait (3, 6);
• Venezuela (3, 3).

In general, these countries produce almost 67% of oil annually.

There is information that the largest oil producing countries on this list may soon switch places. So, in May 2015, the Russian Federation extracted 500 million barrels more from the earth's interior than Saudi Arabia.

Saudi oil industry

Many of the world's leading oil producers are located in the Middle East. One of them is Saudi Arabia. Oil was first discovered here in 1930. After this event, this Arab state has changed qualitatively.

Today, the entire economy of Saudi Arabia is focused on the export of this energy resource. All deposits of "black gold" in this state are controlled by Saudi Aramco. Oil supplies to the world market bring Saudi Arabia up to 90% of total income! Such high volumes of oil production gave impetus to the development of many other industries in the country.

The main consumers of Arabian oil are the United States, as well as the states of East Asia. Despite the fact that Saudi Arabia is the absolute leader in oil production in the world, the standard of living of people in this country is still not high enough.

Peculiarities of the oil industry in Russia

Russia is the richest country on the planet in terms of reserves of various minerals. In addition to oil, natural gas, coal and non-ferrous metals are mined here on a huge scale.

In Russia, "black gold" is not only mined, but also actively processed, producing a number of oil products: gasoline, fuel oil, diesel fuel, etc. However, the quality of these products is still not high enough, which is a major problem for them successful export to the world market.

In recentOver the years, the situation in the Russian oil industry has improved somewhat. In particular, financial injections (investments) in this industry have increased. The depth of oil refining is also gradually growing - today this figure in Russia is about 71%.

Petroleum production and refining in the USA

The United States of America is one of the three largest world producers of oil and petroleum products. At the same time, the state not only exports "black gold", but also actively buys it from other countries. An amazing fact: the US consumes 4 times more oil annually than it produces.

1761 - this is the number of drilling rigs operating today in the US. 56 of them extract crude oil from the sea shelf.

In American oil production, first of all, three states should be singled out: Alaska, California and Texas. In addition, the United States has the so-called Strategic Petroleum Reserve - a strategic oil reserve, which should be enough for the country for 90 days (in case of unforeseen situations). This reserve is dispersed throughout the United States and is stored in underground s alt domes.

In conclusion…

So, the leading oil producing countries on the planet are Saudi Arabia, Russia and the USA. These states extract from the earth about 37% of the global production of this resource.