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Top 10 Oil-Producing Countries In The World

Top 10 Oil-Producing Countries In The World

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Black gold fuels economies around the globe, but just 10 countries are responsible for producing 60 percent of the 90-million barrels of oil pumped daily. In this list we focus on crude oil extraction, not natural gas and biofuel production. These are the top 10 oil-producing countries in the world.

Sources: International Energy Agency (IEA), Bloomberg News, Finances Online. U.S. Energy Information Administration, Shell Global

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tripadvisor.com

10. Kuwait

No. 10 on our list is Kuwait, which produces 2.75-million barrels of crude per day, accounting for more than 3 percent of global oil production. Wells here have been pumping since the 1930s, but Kuwait says it still has more than 100 billion barrels in reserve.

news.com.au
news.com.au

9. Brazil

Brazil produces 3.15 percent of the planet’s crude oil each day, pumping out 2.8 million barrels per day. Brazil rose to fame in the oil-production world in 2006 when a giant offshore oil field — named Lula for the president — was discovered about 100 miles off the coast of Rio de Janeiro. It was the largest oil discovery in the Western Hemisphere. Even more recently a second field was discovered near Lula. When combined, these give Brazil reserves estimated at 12.86 billion barrels.

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www.rkr-stock.deviantart.com

8. Mexico

No 8. on the list, Mexico may seem unexpected — it is seldom thought of as an energy powerhouse. But the country, perhaps best known for its ruthless drug cartels, pumps out 2.95 million barrels per day, which accounts for 3 percent of global production.

800px-Oil_platform
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7. United Arab Emirates

The UAE produces 3.23 million barrels per day, which is 3.6 percent of global output, making it No. 7 on our list. Emirates sits in an oil-dense portion of the Persian Golf. Current reserves are around 98-billion barrels.

Dominic Chan/WENN
Dominic Chan/WENN

6. Canada

Canada is known for hockey and maple leaves and the great outdoors, but it’s also a major oil player, producing some 3.95 million barrels per day or about 4 percent of global output. It also has the world’s third largest oil reserve — after Venezuela and Saudi Arabia — estimated at 180 billion barrels. This number does not include the oil that is likely buried beneath Canada’s portion of the Arctic sea.

phys.org
phys.org

5. Iran

Producing some 4.5 percent of the world’s oil and pumping some 4.12 million barrels each day, Iran also has membership on the OPEC board, which means it holds some power when it comes to setting oil prices.

www.en.wikipedia.org
www.en.wikipedia.org

4. China

No. 4 on our list is China which has increased its oil production steadily in the last half century and now produces some 4.19 million barrels per day — 4.7 percent of the world’s supply. China uses more oil than it produces, however, and has only a modest reserve of 20.35 billion barrels.

offshore-oil-rig
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3. Russia

Pumping out 10.3 million barrels per day, Russia is responsible for 11.64 percent of global crude production. Russia has not fully tapped all its reserves but it is estimated that it sits on more than 100-billion barrels not including the oil presently buried under the Arctic ice sea.

North-Dakota-Oil-Boom
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2. United States

The U.S. produces 10.59 barrels of crude oil per day, equaling 12 percent of total production and landing it in second place on our list. However, if crude oil production numbers are combined with liquids separated from natural gas, then daily output increases enough to make the U.S. the top producer of oil and natural gas liquids in the world. 

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www.en.wikipedia.org

1. Saudi Arabia

Pumping out 11.75 million barrels per day, Saudi Arabia is No. 1 on the list for crude oil production. Responsible for 13.24 percent of the world’s global oil production the Saudis also have the world’s second-highest oil reserves (after Venezuela), sitting on more than 260 billion barrels of black gold.