Table of Contents
Which country is the biggest producer of crude oil in the world?
What countries are the top producers and consumers of oil?
| Country | Million barrels per day | Share of world total |
|---|---|---|
| United States | 18.60 | 20% |
| Saudi Arabia | 10.82 | 11% |
| Russia | 10.50 | 11% |
| Canada | 5.26 | 6% |
Where is crude oil found in the world?
Today, petroleum is found in vast underground reservoirs where ancient seas were located. Petroleum reservoirs can be found beneath land or the ocean floor. Their crude oil is extracted with giant drilling machines.
Where are the world’s largest sources of crude oil?
Top ten countries with the largest oil reserves in 2019
- Venezuela – 304 billion barrels.
- Saudi Arabia – 298 billion barrels.
- Canada – 170 billion barrels.
- Iran – 156 billion barrels.
- Iraq – 145 billion barrels.
- Russia – 107 billion barrels.
- Kuwait – 102 billion barrels.
- United Arab Emirates – 98 billion barrels.
Where does most US oil come from?
In 2020, Canada was the source of 52% of U.S. total gross petroleum imports and 61% of gross crude oil imports.
- The top five sources of U.S. total petroleum (including crude oil) imports by share of total petroleum imports in 2020 were.
- Canada52%
- Mexico11%
- Russia7%
- Saudi Arabia7%
- Colombia4%
Where does America buy oil from?
The top five source countries of U.S. gross petroleum imports in 2020 were Canada, Mexico, Russia, Saudi Arabia, and Colombia.
Who produces the most oil in the world?
Oil Producing Countries 2021
- Russia – 10.58 million BPD.
- Saudi Arabia – 10.13 million BPD.
- United States – 9.352 million BPD.
- Iran – 4.469 million BPD.
- Iraq – 4.454 million BPD.
- Canada – 3.977 million BPD.
- China – 3.383 million BPD.
- United Arab Emirates – 3.174 million BPD.
Where is the most oil in the world?
Venezuela
Venezuela has the largest amount of oil reserves in the world with 300.9 billion barrels. Saudi Arabia has the second-largest amount of oil reserves in the world with 266.5 billion barrels.
Where is oil produced in the US?
In 2020, about 71% of total U.S. crude oil production came from five states.
- The top five crude oil-producing states and their percentage shares of total U.S. crude oil production in 2020 were.
- Texas43.0%
- North Dakota10.4%
- New Mexico9.2%
- Oklahoma4.1%
- Colorado4.0%