Even a child is familiar with the term “black gold” today. Possession of high oil reserves and oil production delivered allowed many countries to literally step out of poverty into a new life. Thus, the welfare of such countries as Kuwait, the United Arab Emirates and Saudi Arabia is almost completely grown on oil.
Today we present world oil rating. Given the fact that the USA has actively taken up the increase in the production of “black gold”, Russia's first place next year will probably be called into question.
10. UAE (960 million barrels per year)
The emirates are systematically reducing oil production and the share of the oil sector in the country's economy. The state is actively developing trade, re-export and tourism. Nevertheless, the share of the oil and gas industry in the UAE's GDP is slightly less than 25%.
9. Kuwait (1 billion barrels)
In the 1960s, it was oil that gave Kuwait freedom from British influence. About 9% of the world's oil reserves are located in the country. The share of the oil sector in GDP exceeds 50%, and 95% of exports are crude oil and refined products.
8. Mexico (1.1 billion barrels)
Mexico accounts for approximately 3% of global oil production. Due to the underdeveloped refining industry, Mexico exports crude oil and at the same time imports petroleum products, purchasing them from the United States.
7. Iran (1.1 billion barrels)
About 45% of the country's budget revenues come from oil sales. The main buyers of Iranian oil are China, India, Japan, Turkey, South Korea and Italy.
6. Iraq (1.1 billion barrels)
The development of an oil field in the country is carried out by two state-owned companies - North Oil and South Oil Company. Oil exports account for 98% of Iraqi budget revenues. In comparison with last year’s rating, Iraq rose by 2 lines, increasing the rate of oil production.
5. Canada (1.4 billion barrels)
Canada accounts for almost 5% of global oil production. A well-developed refining industry allows Canada to completely abandon the import of petroleum products, providing its own needs on its own.
4. China (1.5 billion barrels)
Despite the fact that the growth of the Chinese oil industry is almost 3% per year, the country imports oil, purchasing it mainly from countries such as Iran and Iraq. China accounts for 5.1% of the global oil production market.
3. Saudi Arabia (3.6 billion barrels)
The share of Saudi Arabia in world oil production is almost 12%. The growth rate is more than 5% per year, which is an impressive indicator. Meanwhile, the United States squeezed the Saudi out of the second line of last year’s rating.
2. USA (3.7 billion barrels)
The states show the most impressive growth in the oil industry - nearly 11% per year. Today, the country accounts for 12.2% of the global production of “black gold”.
1. Russia (3.8 billion barrels)
It is becoming increasingly difficult for Russia to maintain leadership in oil production. The country does not have enough reserves for a qualitative increase in production, so the increase is only 1.3% per year. If this growth rate is maintained in a year, Russia will be on the third line of the rating, behind the USA and Saudi Arabia.
