Oil is the main energy resource of the planet today. It is no coincidence that it is also called black gold. Which oil producing countries are leading the world today? You will learn about this from our article.
Worldwide oil reserves
To answer the question: “which countries are the leaders in oil production in the world today?”, The concepts of “oil reserves” and “oil production” should be clearly distinguished.
By global oil reserves, scientists mean the amount of resources 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 prospected, estimated, prospective, prospectively estimated, etc.
There are several units for global oil reserves. So, in Russia and the UK, tons are used to assess this resource, in Canada and Norway - cubic meters, in many other countries - barrels.
The total reserves of "black gold" on the planet are estimated today at the figure of 240 billion tons. About 70% of these global reserves are concentrated in OPEC countries , an intergovernmental organization that has united a number of oil producing states.
The first five countries leading in oil reserves (as of 2014) look like this: Venezuela, Saudi Arabia, Canada, Iran and Iraq.
Leading countries in oil production: the top ten
According to one version 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 famous researcher of the dynamics of world oil production V.N.Schelkachev highlighted 1979 in particular. Prior to this chronological milestone, production of a given 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 (in parentheses is a percentage of global oil production):
- Saudi Arabia (12.9%);
- Russia (12.7);
- United States (12.3);
- China (5.0);
- Canada (5.0);
- Iran (4.0);
- United Arab Emirates (4.0);
- Iraq (3.8);
- Kuwait (3.6);
- Venezuela (3.3).
In general, almost 67% of the oil is extracted annually in these countries.
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 bowels of the earth than Saudi Arabia.
Saudi Arabian Oil Industry
Many countries leading in oil production in the modern world 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 undergone a qualitative transformation.
Today, the entire economy of Saudi Arabia is focused on the export of this energy resource. All black gold deposits in this state are controlled by Saudi Aramco. Oil supplies to the world market bring to Saudi Arabia up to 90% of total revenues! Such high volumes of oil production gave impetus to the development of many other industries of the country.
The main consumers of Arabian oil are the USA, 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.
Features 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 produced on a massive scale here.
In Russia, “black gold” is not only mined, but also actively refined, 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 their successful export to the world market .
In recent years, the situation in the Russian oil industry has improved somewhat. In particular, increased financial injections (investments) in this industry. The depth of oil refining is also growing gradually - today this figure in Russia is about 71%.
Oil production and refining in the USA
The United States of America is one of the three largest world producers of oil and petroleum products. Moreover, the state not only exports “black gold”, but also actively purchases it from other countries. An amazing fact: in the USA, 4 times more oil is consumed annually than it is extracted.
1761 - this is the number of drilling rigs that operates today in the United States. 56 of them extract crude oil from the offshore shelf.
First of all, three states should be distinguished in American oil production: these are Alaska, California and Texas. In addition, in the United States there is the so-called Strategic Petroleum Reserve - a strategic oil reserve that should be enough for the country for 90 days (in case of unforeseen situations). This reserve is dispersed across different regions of the United States and is stored in underground salt domes.
Finally...
So, the leading countries in oil production on the planet are Saudi Arabia, Russia, and also the USA. These states extract from the earth about 37% of the global production of this resource.