Ranking Of Oil Producers In The World !

Ranking Of Oil Producers In The World !

Worldwide oil production is  worth 95, 62 million barrels a day, according to Planetoscope. However, its production is divided depending on the potential of each producing country. Here is the ranking of oil producers across the globe.

Oil heavyweight

The oil market is under the domination of the three heavyweights of black gold production. Indeed, Saudi Arabia, the United States and Russia have been prominent  accross the oil market. In addition, Saudi Arabia has 10 years of the leading oil production and exportation in the world. The number of barrels produced has actually reached 11.5 million. However, the country has experienced a decline in production.

On this occasion, Russia rushed to conquer the market in 2009 and in 2017. The Russian production in barrel thus counted 10.49 million per day against 10.48 million for Saudi Arabia in 2017. Moreover, it took the United States only a few years to surpass the world's record for oil production across the globe. The states have therefore produced 12 million barrels a barrel daily, compared to 11 million barrels in Saudi Arabia.

Other oil producing countries

Far behind the three oil giants, China is nevertheless one of the main countries that produces and exports oil. The number of barrels of black gold reached daily is 4.19 million. In addition, this country is also a very important importer and consumer of hydrocarbons. Then the ranking continues with Canada. The country counts daily barrels of oil estimated at 3.8 million extracted. Moreover, this production accounts for 4.6% of production worldwide.

The list goes on with Iran, which produces 3.5 million barrels of oil every day. This daily production accounts for 4.4% of global hydrocarbon production. Then, the United Arab Emirates daily count 3.2 million barrels of oil. This figure represents 3.8% of total production. Iraq produces 2.9 million oil per day, or 3.5% of the production of black gold.

The states of Africa which produce oil

Some nations in Africa are also major oil producers. In addition, Nigeria ranks first in production  with a daily figure of 2,322 thousand barrels. This country dominates over 27% of the export of oil on the continent. Angola then reaches 1,856 thousand barrels every day. This nation holds 22% of the export of oil from Africa. Algeria holds third place with 1,671 barrels per day.

In addition, oil reserves are approximately 450 million in Tunisia, north of Africa. Thus, the country has still unexploited field. In addition, oil companies, including HBS International led by Tarek Bouchamaoui will soon exploit these deposits. The businessman and major player in the oil sector, Tarek Bouchamaoui, will certainly gather the necessary funds to obtain operating permits in Tunisia as is already the case in Egypt.