Oil is one of the most important sources of energy for the country's economy. However, not all countries have this precious non-renewable resource, which is called "black gold". The power of this energy lies in the hands of only a few countries, many of which have witnessed rapid industrialization and modernization, mainly due to their oil reserves.
Fluctuations in the oil industry can have far-reaching consequences not only for the economies of oil-producing countries, but also for the global economy. Oil production is measured by the number of barrels of crude oil produced each day before being refined. Based on this criterion, and according to data provided by the Energy Information Administration (EIA), the largest oil producing countries in the world are the following countries:
Saudi Arabia
Saudi Arabia ranks first among the leading oil-producing countries in the world, producing 11,726 thousand barrels of crude oil daily. The country has the second largest oil reserves in the world, with about 267 billion barrels of proven reserves. There are about 100 major oil and gas fields in Saudi Arabia, but 60% of the oil produced by this country comes from the Ghawar field, which is the largest oil field in the world.
The United States is the world's second largest oil producer, producing 11,115 thousand barrels of crude oil daily. Estimated reserves of the country are estimated at 30 billion barrels. Even though the US is second, it needs to import huge amounts of oil from other countries as it is the world's largest oil consumer. Main oil fields countries are located in California, Alaska and Texas.
Russia is the third largest oil producing country in the world, of which 10,397 thousand barrels of crude oil are produced per day. The country's proven reserves are 60 billion barrels. Russia also has the largest reserves natural gas in the world. Although Russia has several oil fields, most of its crude oil comes from its West Siberian reserves, mainly from the Priobskoye and Samotlor fields.
China imported most of its oil needs until the late 1950s. But today it is the fourth largest producer, producing 4,416,000 barrels every day. Most of the oil comes from huge reserves found in the northeastern part of the country. China's proven reserves are 20.4 billion barrels.
Canada is the fifth largest oil producer in the world, producing 3,856 thousand barrels of crude oil daily. Canada's reserves amount to 173.6 billion barrels, which is the third largest in the world. The bulk of oil exploration and production takes place in Alberta and British Columbia. Canadian oil production is expected to rise significantly in the coming years as unconventional oil sources (oil sands) countries became economically viable.
Iran produces about 3,589 barrels of crude oil daily. The country is the fifth largest oil producer in the world and the second largest producer in OPEC (Organization of Petroleum Countries). Iran's proven oil reserves are estimated at 151.2 billion barrels.
United United Arab Emirates
The various emirates of the UAE produce 3213 thousand barrels of crude oil every day. The proven reserves of the UAE are estimated at 97.8 billion barrels, of which the bulk is in Abu Dhabi. Abu Dhabi is estimated to have about 92 billion barrels of oil reserves, while Dubai and Sharjah have 4 billion and 1.5 billion barrels, respectively.
Iraq ranks third in the world in terms of oil reserves, of which approximately 14.1 billion barrels are proven (officially confirmed) reserves. Iraq's oil industry has suffered greatly due to years of war and unrest. But nevertheless, the country managed to take the eighth position in the list of the largest oil producers in the world, producing 2,987 thousand barrels of crude oil daily.
Mexico currently produces 2,936 thousand barrels of crude oil daily and exports more than one third of its oil to the United States. However, the country has faced the closure of some of its old oil fields due to a significant decline in oil reserves. As a result, in 2005 oil declined. However, the discovery of new oil fields is expected to counteract this drop in the near future. At present, the country's proven reserves amount to 10.4 billion barrels.
Kuwait is the tenth largest oil producer in the world, producing 2,797 thousand barrels of crude oil daily. Kuwait's proven reserves amount to 104 billion barrels, which is the sixth largest oil reserve in the world. The main oil fields of this country are located in the Burganskoye field, which is located in the deserts of southeastern Kuwait. This oil field was discovered in 1938, but commercial production did not begin until 1946. The Burganskoye field is the second largest oil field in the world.
Many fluctuations are expected in the oil industry in the coming years. According to the International Energy Agency, the US will soon surpass Saudi Arabia, which will certainly have a huge impact on the oil industry as well as the global economy.
Despite the development of alternative forms of energy, petroleum products remain the most important resource on the planet. Hydrocarbon raw materials are used for the manufacture of motor and turbine fuel, lubricants, solvents, plastics, dyes, additives and other products.
Oil production and processing are carried out by countries on all continents. Exploration activities have shown where the most hydrocarbon-rich deposits are located. Let's talk about extracting valuable raw materials from the bowels and present the rating of countries by oil production.
Features of oil production in different countries
Extraction of black gold - technologically difficult process. To do this, it is necessary to explore the field, drill a well and build everything that is necessary for long-term production. There are at least three ways to extract oil products from the bowels:
- artificial lifting by means of gas lift;
- fountain method based on pressure difference;
- using pumping equipment.
A number of fields are characterized by high pressure, due to which it is easy to raise hydrocarbons. As a rule, natural pressure allows to produce up to 15% of the well volume. This is how the well is developed by the primary method. When natural forces can no longer bring hydrocarbons to the surface, a secondary method is used. It consists in pumping gas or water into the well, under the pressure of which the oil gets out.
Sample of produced oil
A huge role in the mobility of raw materials is played by its viscosity. The lower it is, the easier the extraction process. In the case of high viscosity, a tertiary method is used, which consists in heating the resource or introducing surfactants.
The use of the latter method is the most expensive, so experts calculate the profitability of oil production before starting work. These methods are used only when the others have been exhausted completely.
Let's consider the leaders of the hydrocarbon raw materials market, evaluate the data on the cost of oil production by country.
Ranking of countries by oil production volumes
Despite the fact that in some countries the deposits are empty, this raw material continues to play a leading role in influencing the global economy. We present the top 10 countries in terms of oil production, we will talk about the features of their economy, the cost of raw materials at the output and the impact of production on world processes.
In leading countries, the cost of raw materials extracted from the subsoil can vary significantly. The difference of $4-5 per barrel of oil is considered significant because:
- at a high cost, income from profits falls;
- the lower the amount of expenses, the easier it is to extract in terms of technology.
Everyone who follows the news has heard of shale oil at least once. This is a good case in point, as exploration costs are, on average, 3 times higher for exploration companies than conventional commodities.
The export of shale hydrocarbons is not profitable if average price per barrel below $70-80. We present a list of countries by oil production in the world.
10th place - Venezuela
The economy of this country is built on the extraction of black gold. In addition to income from oil exports, there is a clear disadvantage in this: 95% of income from external sales caused a global crisis with falling commodity prices. It is noted that the inflation process was not stopped by the government, and today it amounted to 1,300,000%. The results are disappointing:
- citizens' incomes have fallen;
- a political crisis arose;
- imported goods were in short supply, there was a threat of famine.
Hyperinflation rates in Venezuela
Problems have arisen in a country where the cost of hydrocarbon production is $30-45. Work is underway in the Orinoco Basin, where heavy bituminous oil is concentrated. Venezuela is a member of OPEC, the organization controls almost 2/3 of the reserves of raw materials.
The country has the largest deposits of black gold in the world (about 300 billion barrels), producing only 124.1 million tons per year.
9th place - Kuwait
A small Asian state is a member of OPEC, has 9% of the world's black gold reserves. Due to the fact that the countries of the Persian Gulf, including Kuwait, have a small population, they do not feel an acute crisis when hydrocarbon prices fall.
Main oil fields:
- Big Burgan;
- Rumaila (shared with Iraq);
- Raudatetain;
- Safania-Khafji (shared with Saudi Arabia).
Oil refinery in Kuwait
The country's annual production level is 152.7 tons.
8th place - United Arab Emirates
The discovery of light hydrocarbons in the UAE has turned the country from the least developed to the most prosperous in two decades. The Arabs relied not only on the extraction of raw materials, but also on its processing, foreign trade, development of ports. The crisis of 2014 with the fall in the cost per barrel had almost no effect on the country with a population of 5.5 million people.
UAE cities were built with funds received from the sale of black gold
Most of the reserves are concentrated in the Abu Dhabi region. The cost of 1 barrel is $4-5. The UAE annually extracts 182.4 million tons, occupying one of the leading places in oil production.
7th place - People's Republic of China
China discovered reserves of black gold at the beginning of the 20th century, starting mining in a primitive way. Despite the fact that work in the 80s was carried out at an active pace, in 1993 the PRC began to import raw materials and products from it.
Circled in yellow is the location of China's largest oil field
China is the owner of the world's largest strategic hydrocarbon reserves. The main volumes are concentrated in the east of the country in the foothills of the Tien Shan. China extracts 199.7 tons per year, no official data on the cost of the work has been provided.
6th place - Canada
The main importer of Canadian crude oil is its neighbor - the United States. Canada is the largest owner of proven black gold reserves. In this ranking, it ranks second after Venezuela with 178.9 billion barrels.
The cost of production is $16-20, they are carried out in the sands of Alberta, where the oil is heavy, bituminous. This is the reason for the high cost. In order to raise the oily mixture to the surface, a large amount of fresh water is used. Light raw materials from the province of Labrador and Newfoundland have been produced by almost half by 2018.
Aerial view of drilling sites and roads to them in Alberta
Estimated volume of extracted black gold is 216 million tons per year.
5th place - Iran
Iran is one of OPEC's largest oil exporters. Works in this country remain profitable even with extremely low prices on raw materials, since the cost does not exceed $6.
Despite US sanctions pressure, it is the largest economy in the Middle East. Iran receives only 45% of its income from oil exports, extracting 218 million tons from the bowels annually.
4th place - Iraq
The oil and gas basin of the Persian Gulf could make Iraq one of the richest countries in the world. This was hampered by the policy of the authorities, the war in Iraq and the subsequent expansion by terrorist groups that controlled the oil fields for a long time.
refinery in Iraq
The largest deposit is Er Rumaila, according to geological exploration, the volume of reserves is almost 5.2 billion tons. Today, the largest basins have been returned to government control, Iraq is pursuing an active policy on the world oil market, either reducing work or increasing it. Official data on the extraction of reserves - 218.9 tons.
3rd place - USA
The largest black gold deposit in the United States is located in Alaska and is called Prudhoe Bay (volume - 3.5 billion tons). As the world's largest economy, the country is almost independent of world energy prices. The country is a leader in the production of paper, cars, aircraft, helicopters.
A number of companies in the country are experiencing difficulties in connection with the fall in oil prices, as they are exploring for shale oil. This product was formed in the layers of the earth's crust as a result of decay of plant and animal remains. Extraction is a complex process based on hydraulic fracturing. The main reasons for the high cost:
The main regions of production of shale oil in the United States
The price of works is estimated at $40-60. Developed industries allow the country to import raw materials from Canada, process them and export them finished products Worldwide.
2nd place - Russian Federation
The extractive industry accounts for 9.1% of the Russian economy. It is consistently among the leading countries in oil production. The largest deposit in Russia is Samotlor in the Khanty-Mansi Autonomous Okrug (6.2 billion tons). Total reserves - 80 billion barrels.
Production at the Samotlor field
According to IMF estimates, the profitability of the Russian economy from the extracted part of the oil does not exceed 40%. The country is trying to rebuild the economy so that it does not depend on the price of petroleum products. However, today it lags far behind in the pace of industrial development and the availability of machine tools. The annual production rate is 554.3 million tons. The cost varies from $6 to $30.
1st place - Saudi Arabia
Saudi Arabia occupies the first place in oil production, annually extracting 585.7 million tons from the bowels. It is also the owner of its huge deposits, estimated at 268,300,000,000 barrels. It is noteworthy that the reliability of the information was refuted by WikiLeaks.
Saudi Arabia is the world's leading oil producer
The country's strong dependence on the price of petroleum products caused a serious crisis in the late 1990s. Saudi Arabia is the main player in OPEC, which from time to time tries to negotiate with Russia to reduce the rate of production of raw materials.
Control over the fields is held by the country's main oil market company, Saudi Aramco.
2.02.2016 at 16:46 · pavlofox · 28 110
Leading countries in oil production over the past year
Every day, the world's largest oil producers extract about 100 million barrels of minerals from the fields. The leading oil powers are Russia, Saudi Arabia and the United States. It is they who provide the world market with 39% black gold.
The TOP 10 included leading countries in oil production over the past year.
10. Venezuela | 2.5 million barrels per day
Opens the top ten largest oil producers in the world. The country's economy as a whole depends on the sale of fossil raw materials. Venezuelan exports are 96% oil sales. The country produces about 2.5 million barrels per day. The world share in the production of export raw materials is 3.65%. In terms of world oil reserves, Venezuela occupies the first position: about 46 billion tons of raw materials are concentrated there.
9. United Arab Emirates | 2.7 million barrels per day
They are among the top ten oil leaders. Their export share in the world market is 3.81%. The main deposits of useful raw materials are concentrated directly in the emirate of Abu Dhabi and account for 95%, the remaining 5% are in the emirates of Dubai and Sharjah. The country produces about 2.7 million barrels daily. The total oil reserves in the emirates amount to 13 billion tons of unused raw materials. The largest consumers of the United Arab Emirates product are Japan, Thailand, India, the Republic of Korea, Singapore and China.
8. Kuwait | 2.8 million barrels per day
It has 9% of the world's oil reserves, which is approximately 14 billion tons. Thanks to this, the state has become one of the largest earners. Its share is 3.90% of the total supply of black gold to the world market. The country produces about 2.8 million barrels of raw materials per day. The largest deposit oil is considered to be Big Burgan, from where half of the production is extracted. The rest of the product is provided by the southern Minagish and Umm Gudair deposits, as well as the northern Raudhaiten and Sabriyakh. The country sells the resulting oil products to the United Arab Emirates, Syria, Morocco, Jordan and China.
7. Iraq | 3 million barrels per day
It is one of the most reputable producers of natural raw materials in the world, which is beginning to gain momentum in Lately. And this is no coincidence, because the country's economy is directly dependent on oil exports. The total part of state revenues from the sale of petroleum products is approximately 90%. About 3 million barrels and more are extracted from the fields per day. The share of raw materials extracted by Iraq from the total world share is 4.24% today. There are 20 billion tons of black gold reserves in the country.
6. Iran | Country Iran
- one of the largest oil powers in the world, which has huge reserves of raw minerals. The main part of raw materials is extracted from the Persian Gulf basin. According to researchers, the content of known black gold deposits will last the country for about 90 years. In terms of total oil reserves, which amount to 21 billion tons, the country is in third place. Iran extracts more than 3 million barrels of oil from the oil fields every day. The share of the country's production in the world market segment is 4.25%. The main consumers of the Iranian product are China, Japan, Türkiye, India and South Korea. Almost half of the state's income comes from the export of petroleum products.
5. Canada | 3 million barrels per day
is one of the leading producers and exporters of oil. The volume of extracted raw materials per day is more than 3 million barrels. The largest mineral deposit is one of the provinces of Canada - Alberta. The country is considered the main supplier of "black gold" to the United States, where more than 90% of the crude product is sold. The total world share of the exporter's production is 4.54%. The state has inexhaustible reserves of natural raw materials and is among the three richest countries in terms of oil reserves, which are estimated at 28 billion tons.
4. China | 4 million barrels per day
(PRC) is one of the largest oil producers. The share of the world volume for the extraction of raw materials is 5.71%. More than 4 million barrels are extracted daily from the depths of the earth with the help of drilling rigs. The country is not only the largest exporter, but also one of the leaders in the consumption of raw materials due to a large number population. The state does not have the largest oil reserves, of which there are 2.5 billion tons. Russia is one of China's largest oil importers.
3. USA | 9 million barrels per day
(11.80%) opens the top three world giants in oil production. The United States is engaged not only in exports, but also in imports of raw materials. Great amount drills extract up to 9 million barrels of fossil daily. As a percentage, the annual production volume is 11.80% in relation to other world oil producers. There are three main states that produce the product in the country - California, Alaska and Texas. The country has reserved a strategic reserve of black raw materials for use in case of unforeseen circumstances.
2. Saudi Arabia | 10 million barrels per day
- one of the world's largest black gold miners. The entire economy of the country of the Middle East rests on the export of oil, which it supplies to the states of East Asia and the United States. Part of the external income received by Saudi Arabia from the sale of precious raw materials is about 90%. Oil fields in the country are controlled by Saudi Aramco. The world share of mining in the country is 13.23%. Daily work brings up to 10 million barrels per day. The country's proven mineral reserves are 36.7 billion tons.
1. Russia | more than 10 million barrels per day
It is the rightful leader in oil production in the world. And this is not accidental, since the Russian Federation is considered the richest country in terms of reserves not only of “black gold”, but also of other minerals. It is literally a storehouse of natural gas, non-ferrous metals and hard coal. Oil is extracted not only for export, but also for the production of fuel material. The total volume of its proven reserves is over 14 billion tons. More than 10 million barrels per day are extracted from fields every day, and this volume is constantly growing. As a percentage of world oil production, the share of the Russian Federation is 13.92%.
Readers' Choice:
Below is a list of the ten largest oil-producing countries in the world. The states listed in this ranking account for more than 64% of world oil production. We also recommend that you familiarize yourself with the list of the ten largest oil-consuming countries in the world.
2.93 million barrels of oil / day - 3.56% of the total number of barrels of oil produced per day.
3.02 million barrels of oil / day - 4.74% of world oil production.
United Arab Emirates (UAE)
3.09 million barrels of oil / day - 3.32% of the total daily oil production in the world.
Iraq is also among the top ten oil-producing countries with an indicator of 3.4 million barrels of oil / day - 3.75%
3.59 million barrels of oil / day - 3.90% of world production.
4.073 million barrels of oil / day - 4.56%
4.23 million barrels of oil / day - 4.77% of the total daily oil production.
8.45 million barrels of oil / day - 9.97%
9.9 million barrels of oil / day, - 12.65% of the total daily number of barrels of oil produced in the world.
Russia
10.9 million barrels of oil / day - 13.28% of world oil production.
We were able to develop our economy through the implementation of the main resource. But the dynamic growth of indicators would not have been possible if the developing states had not united.
Groups of oil-producing countries
Before finding out what organizations exist that regulate the production of crude oil and the conditions for its sale, it is necessary to understand which states are included in them. Thus, the main exporters of oil are those countries where it is produced. At the same time, the states that are world leaders produce more than a billion barrels annually.
Experts from all countries are divided into several groups:
Members of OPEC;
USA and Canada;
North Sea countries;
other large states.
World leadership belongs to the first group.
History of OPEC
An international organization that brings together the main oil exporters is often called a cartel. It was created by several countries to stabilize prices for the main raw material. This organization is called OPEC (English OPEC - The Organization of the Petroleum Exporting Countries).
The main oil exporting countries, which belonged to developing countries, united back in 1960. This historic event took place at the September conference in Baghdad. The initiative was supported by five countries: Saudi Arabia, Iraq, Iran, Kuwait and Venezuela. This happened after the 7 largest multinational companies engaged in oil production, which were also called the "Seven Sisters", unilaterally lowered the purchase prices for oil. After all, depending on its value, they were forced to pay rent for the right to develop deposits and taxes.
But the newly independent states wanted to control oil production on their territory and monitor the exploitation of resources. And given the fact that in the 1960s the supply of this raw material exceeded demand, one of the goals of the creation of OPEC was to prevent further price declines.
Beginning of work
After creation international organization oil-exporting countries began to join it. Thus, during the 1960s, the number of states included in OPEC doubled. Indonesia, Qatar, Libya, Algeria joined the organization. At the same time, a declaration was adopted, fixing the oil policy. It said that countries have the right to exercise constant control over their resources and ensure that they are used in the interests of their development.
The main oil exporters in the world in the 1970s completely took control of the extraction of flammable liquid. It was from the activities of OPEC that the prices set for the raw resource began to depend. During this period, other oil exporting countries joined the organization. The list has expanded to 13 participants: it also includes Ecuador, Nigeria and Gabon.
Necessary Reforms
The 1980s were a rather difficult period. Indeed, at the beginning of this decade, prices rose unprecedentedly. But by 1986, they had fallen, and the price was set at about $10 per barrel. This was a significant blow, all oil-exporting countries suffered. OPEC managed to stabilize the cost of raw materials. At the same time, a dialogue was established with states that are not members of this organization. Oil production quotas for OPEC members were also set. The cartel agreed on a pricing mechanism.
Importance of OPEC
To understand the trends in the world oil market, it is important to know how OPEC's influence on the situation has changed. So, in the early 1970s, the participating countries controlled only 2% of the national production of this raw material. Already in 1973, the states achieved that 20% of oil production passed under their control, and by the 1980s, more than 86% of the entire resource production became subject to them. With this in mind, the oil exporting countries that joined OPEC have become an independent determining force in the market. by that time they had already lost their strength, because the states, if possible, nationalized the entire oil industry.
General trends
But far from all oil-exporting countries were part of a specialized one. For example, in the 1990s, the government of Gabon decided on the need to withdraw from OPEC, in the same period Ecuador temporarily suspended participation in the affairs of the organization (from 1992 to 2007 ). Russia, which occupies a leading position in terms of production of this resource, in 1998 became an observer in the cartel.
Currently, OPEC members collectively account for 40% of world oil production. At the same time, they own 80% of the proven reserves of this raw material. The organization can change the required level by increasing or decreasing it at its discretion. At the same time, most of the states involved in the development of deposits of this resource are working at full capacity.
Main exporters
Currently, 12 countries are members of OPEC. Some states involved in the development of the resource base operate independently. For example, these are such major oil exporters as Russia and the USA. They are not subject to the influence of OPEC, the organization does not dictate the conditions for the production and sale of this raw material. But they are forced to come to terms with the global trends that are set by the member countries of the cartel. On this moment Russia and the United States occupy a leading position in the world market along with Saudi Arabia. In terms of production of combustible liquid, each state accounts for more than 10%.
But this is not all the main oil exporting countries. The top ten list also includes China, Canada, Iran, Iraq, Mexico, Kuwait, and the United Arab Emirates.
Now in more than 100 various states there are oil deposits, they are being developed deposits. But the volumes of extracted resources, of course, are incomparably small compared to those owned by the largest oil exporting countries.
Other organizations
OPEC is the most significant association of oil-producing states, but not the only one. For example, in the 1970s, the International Energy Agency was organized. 26 countries immediately became its members. The IEA regulates the activities of not exporters, but the main importers of raw materials. The task of this agency is to develop the mechanisms of interaction that are necessary in crisis situations. Thus, it was the strategies he developed that made it possible to somewhat reduce the influence of OPEC on the market. The main recommendations of the IEA were that countries create optimal routes for the movement of raw materials in the event of an embargo and take other necessary organizational measures. This contributed to the fact that not only the largest oil exporters can now dictate the conditions on the market.
