![]() Surmont oil sands project in Alberta, Canada (Credit: ConocoPhillips)įive companies account for more than half of Canada’s crude oil production. In 2019, the country produced more than 5.6 million bpd, almost 6% of the total global output. After Venezuela and Saudi Arabia, Canada has the world’s third-largest known oil reserves. Most of Canada’s oil – around 97% of it – is contained within oil sands in the western province of Alberta. Russia is also home to the world’s biggest natural gas reserves, and along with the US, dominates global production of this resource. Most of its exports are sent to China, as well as key European markets including the Netherlands and Germany.Īfter a period of privatisation following the collapse of the Soviet Union, much of Russia’s oil (and gas) industry has now fallen back under state control – overseen by government-backed companies including Rosneft and Gazprom. Like Saudi Arabia, the country is a significant exporter of oil to global markets, and is the de facto leader of a group of countries allied to Opec, known informally as Opec+. Russia produced around 12% of the world’s oil supply in 2019, measured at just above 11.5 million bpd. Saudi leader Crown Prince Mohammad bin Salman has hinted at diversifying the Saudi economy away from its dependence on oil revenues, in a programme that has been called Saudi Vision 2030. ![]() Its oil wealth is governed by the state-controlled company Saudi Aramco, which in December 2019 became the world’s most-valuable listed firm when it floated 1.5% of its shares of the Tadawul stock exchange in a record-breaking IPO. It is also home to the Ghawar oilfield, in the east of the country, which is the world’s biggest conventional oilfield and accounts for a large proportion of Saudi crude oil production. The country is the world’s biggest oil exporter, and is the de facto leader of the Opec group. The Kingdom of Saudi Arabia occupies second place on this list of top oil-producing countries, with a national output of around 11.8 million bpd in 2019 – 12.4% of the global total. Saudi Arabia – 11.8 million barrels per day The US is also the world’s top natural gas producing country, a status again helped by the emergence rise of shale fracking technologies.Ģ. They were Texas, North Dakota, New Mexico, Oklahoma and Colorado. In 2019, about 69% of total US crude oil production came from five states. The country’s rise has been underpinned by the shale fracking revolution of the past decade, through which new technologies and drilling techniques have provided access to unconventional resources that were previously not commercially viable to extract. Production edged just above 17 million bpd in 2019, giving the US an 18% share of the entire global output. ![]() The US became the world’s biggest oil producer in 2017, overtaking Saudi Arabia to claim top spot. United States – 17 million barrels per day Top ten largest oil-producing countries in 2019 1. Here, NS Energy profiles the world’s top ten largest oil-producing countries, based on their output measured in 2019. Many of the countries on this list are members of the Opec group of oil-exporting countries, an organisation that has kept tight control over global oil production since it was established in 1960 as a means to support oil prices and ensure stable revenues for its membership. There are an estimated 1.73 trillion barrels of proved global oil reserves, and three powerful nations dominate the world’s production of this fuel that has many uses, including transport, industry and heating as well as plastics and chemical manufacturing.ĭespite growing international momentum behind policies to shift away from oil as an energy source in response to concerns about climate change, it remains, for now, a significant ingredient of the world fuel supply. The world’s largest oil-producing countries play a significant role on the world stage, as gatekeepers of a commodity that has driven industrialisation and for which there is a consistently high level of global demand.Īccording to the BP Statistical Review of World Energy 2020, more than 95 million barrels per day (bpd) were produced during 2019 – roughly the same level as in 2018 and a 17% increase compared to ten years earlier. More than 95 million barrels of oil per day were pumped globally in 2019, with the largest oil-producing countries ranging from Saudi Arabia to BrazilĬrude oil is an important global commodity, used transport, heating and industry (Credit: ded pixto/Shutterstock)
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