Oil reserves in the group of industrialized countries. Countries of the world rich in oil reserves. Reserves in Canada

Global proven oil reserves (as of 2015) amount to 1657.4 billion barrels. The largest oil reserves - 18.0% of all world reserves - are located in Venezuela. Proven oil reserves in this country amount to 298.4 billion barrels. Saudi Arabia is the second largest country in the world with oil reserves. The volume of its proven reserves is about 268.3 billion barrels of oil (16.2% of the world's total). Proven oil reserves in Russia account for approximately 4.8% of the world's reserves - about 80.0 billion barrels, in the USA - 36.52 billion barrels (2.2% of the world's total).

Oil reserves in countries of the world (as of 2015), barrels

Oil production and consumption by country

The world leader in oil production is Russia - 10.11 million barrels per day, Saudi Arabia is in second place - 9.735 million barrels per day. The world leader in oil consumption is the United States - 19.0 million barrels per day, China is in second place - 10.12 million barrels per day.

Oil production by country (as of 2015), barrels/day

data http://www.globalfirepower.com/

Oil consumption by countries of the world (as of 2015), barrels/day

data http://www.globalfirepower.com/

Experts from the International Energy Agency (IEA) expect global oil demand to increase by 1.4 million barrels per day in 2016 to 96.1 million barrels per day. In 2017, global demand is forecast to reach 97.4 million barrels per day.

World oil exports and imports

The leaders in oil imports are currently the United States - 7.4 million barrels per day and China - about 6.7 million barrels per day. The leaders in exports are Saudi Arabia - 7.2 million barrels per day and Russia - 4.9 million barrels per day.

Export volume by country in 2015

OPEC data

Import volume by country in 2015

OPEC data

How many years will oil reserves last?

Oil is a non-renewable resource. Proven oil reserves (as of 2015) are approximately 224 billion tons (1657.4 billion barrels), estimated - 40-200 billion tons (300-1500 billion barrels).

By the beginning of 1973, the world's proven oil reserves were estimated at 77 billion tons (570 billion barrels). Thus, proven reserves have been growing in the past (oil consumption is also growing - over the past 40 years it has grown from 20.0 to 32.4 billion barrels per year). However, since 1984, the annual volume of world oil production has exceeded the volume of explored oil reserves.

World oil production in 2015 was about 4.4 billion tons per year, or 32.7 billion barrels per year. Thus, at the current rate of consumption, proven oil reserves will last for about 50 years, and estimated reserves will last for another 10-50 years.

US oil market

As of 2015, the United States imported approximately 39% of its total oil consumption and produced 61% independently. The main countries exporting oil to the US are Saudi Arabia, Venezuela, Mexico, Nigeria, Iraq, Norway, Angola and the UK. Approximately 30% of oil imported into the United States and 15% of total oil consumption in the United States is oil of Arab origin.

According to experts, strategic oil reserves in the United States currently amount to more than 695 million barrels, and commercial oil reserves are about 520 million barrels. For comparison, Japan's strategic oil reserves are about 300 million barrels, and Germany's are about 200 million barrels.

US oil production from unconventional sources increased approximately fivefold between 2008 and 2012, reaching almost 2.0 million barrels per day by the end of 2012. By the beginning of 2016, the 7 largest swimming pools shale oil were already producing about 5.0 million barrels daily. The average share of shale oil, or light tight oil as it is often called, in total oil production in 2016 was 36% (compared to 16% in 2012).

Conventional crude oil production in the United States (including condensate) amounted to 8.6 million barrels per day in 2015, which is 1.0 million barrels per day less than in 2012. The total volume of oil production in the United States, including shale, in 2015 amounted to more than 13.5 million barrels per day. Most of the growth during recent years was driven by increased oil production in North Dakota, Texas and New Mexico, where hydraulic fracturing (fracking) and horizontal drilling technologies were used to produce oil from shale formations.

In percentage terms (up 16.2% from the previous year), 2014 was the best year in more than six decades. Annual increases in oil production regularly exceeded 15% in the first half of the 20th century, but these changes were smaller in absolute terms because production levels were significantly lower than they are now. US oil production rose in each of the previous six years. This trend followed the period from 1985 to 2008, in which oil production fell in every year (except for one year). US oil production growth stalled in 2015 due to a sharp drop in oil prices in the second half of 2014.

According to the latest IEA estimates, conventional oil production in the United States in 2016 will be 8.61 million barrels per day, in 2017 - 8.2 million barrels per day. US oil demand in 2016 will average 19.6 million barrels per day. The average oil price forecast for 2016 was raised to $43.57 per barrel, for 2017 - to $52.15 per barrel.

Based on data provided by Barclays, a ranking of the 10 countries with the largest proven oil reserves was compiled.

10. Nigeria

Proven oil reserves (barrels): 37.14 billion

Oil has become the main source of government revenue since the 1970s. However, as a result of falling oil prices last year, the country found itself in difficult economic situation.

And now, according to some experts, Nigeria will face stiff competition when Iranian oil re-enters world markets.

Currently, more than 300 oil and oil and gas fields have been discovered. The largest deposits are Bomu, Imo River, Okan, Meren, Delta South, Ekpe, Yokri, etc.

Oil production is carried out by joint ventures of the Nigerian National Petroleum Company (NNPC) and transnational corporations Shell (controls up to 52% of production), ExxonMobil, Chevron, ConocoPhillips, Eni, Total and Addax.

9. Libya

Proven oil reserves (barrels): 48.47 billion

Libya's economy is almost completely dependent on energy. Oil and gas sales fell sharply in 2014 due to protests at oil ports.

The oil and gas industries are under state control. Oil production is managed by the Libyan National Oil Company (NOC). Issues of international investment in projects are supervised by Oilinvest.

The main foreign oil companies operating in Libya are Agip-ENI (Italy), Canadian Occidental, Lasmo (UK), Lundin Oil (Sweden), Nimr Petroleum (Saudi Arabia), OMV (Austria), Pedco (South Korea), Petronas (Malaysia), Red Sea Oil Corp. (Canada), Repsol (Spain), Total (France), Veba and Wintershall (Germany).

At the same time, Libya’s oil industry has recently been seriously damaged by the activities of ISIS militants. Thus, since the beginning of February, there has been information about a blockade by Islamists of the al-Mabrouk oil field south of Sirte.

The well is being developed jointly by the French company Total and the Libyan state-owned National Oil Corporation, but its work has been suspended since mid-December due to the civil war.

8. Russia

Proven oil reserves (barrels): 80 billion

Despite the fact that Moscow did its best to achieve an agreement for Iran and the signing of such an agreement was a victory for it, analysts believe that Iran’s entry into the world oil market could become a problem for Russia, since Iranian oil will become the main competitor to Russian oil in European markets.

Ed Morse, director of global commodity market analysis at Citigroup, speaks about this in an interview with Bloomberg: “Iran will compete in Europe with Russia.”

To date, several dozen oil and gas fields have been discovered in Russia. The bulk of them are concentrated in the depths of the Arctic seas, where their development is complicated by difficult climatic conditions.

There is also the problem of delivering oil and gas to their processing sites. Development is carried out on the Sakhalin shelf, as well as on the Russian mainland, where there are quite rich oil, gas and oil and gas fields.

In mainland Russia, most oil and gas fields are concentrated in Siberia and the Far East.

7. United Arab Emirates

Proven oil reserves (barrels): 97.8 billion

The UAE is another country whose economy depends on energy. The modernization of the country's economy began more than 30 years ago, after the discovery of oil. After markets saw a sharp decline in oil at the end of 2014, the UAE, which is one of the largest players in OPEC, began producing record amounts of oil.

The predominant number of deposits have been identified in Abu Dhabi: 25 oil and 4 gas and oil fields. Dubai has 3 oil, 1 gas-oil and 1 gas-condensate fields.

Sharjah has 1 oil, 1 gas and 1 gas condensate field. In Ajman - 1 gas condensate station.

The emirates of Pac al-Khaimah and Umm al-Quwain have one gas condensate field each. The largest deposits on land are Murban Bab, Murban Bu Xaca, Asab, Sahil; on the continental shelf - Umm Shaif, Zakum.

6. Kuwait

Proven oil reserves (barrels): 104 billion

Oil accounts for more than half of Kuwait's GDP, and the country plans to increase oil production to 4 million barrels per day by 2020.

After sanctions were imposed on Iran in 2012, Kuwait (along with Saudi Arabia) took almost the entire share of Tehran's “Asian trade”.

There are 1.6 thousand oil wells operating in the country. In addition to the reserves located in Kuwait, there is also the so-called Neutral Zone between Saudi Arabia and Kuwait, containing an additional 5 billion barrels. oil, half of which belongs to Kuwait.

The largest part of oil reserves (70 billion barrels) is concentrated in the Greater Burgan region, which includes the following oil structures: Burgan, Magwa and Ahmadi.

The reserves of Kuwait's major fields, such as Rawdhatein, Sabriyah and Minagish, are estimated at 5.1; 4.3; 3.3 billion barrels of oil, respectively. These fields mainly produce medium-sulfur and light oil.

The reserves of the South Magwa field, explored in 1984, are estimated by experts to be about 25 billion barrels of light oil.

5. Iraq

Proven oil reserves (barrels): 140.3 billion

Iraq's economy is state-run and the main source of income is oil. Accordingly, when oil prices began to decline sharply in 2014, government revenues fell by 30%.

As of 2015, Iraq, being one of the largest oil-producing countries, demonstrates record production levels.

At the same time, the country's economy and, in particular, the oil industry are facing great problems due to the activities of ISIS militants.

Thus, at the beginning of June 2014, militants from the group Islamic State Iraq and the Levant launched an attack on a number of cities in northern Iraq. On June 17, 2014, the Baiji oil refinery, 40 km from the capital Baghdad, one of the largest in Iraq, was attacked.

In this regard, some foreign companies, in particular, ExxonMobil and British Petroleum announced the evacuation of personnel or plans to remove employees in the event of an escalation of the situation. On June 19, government forces managed to recapture the plant.

4. Iran

Proven oil reserves (barrels): 157.3 billion

Now Iranian oil has become the main issue for discussion. Analysts believe that the return of Iranian oil to the world market could lead to a further decline in oil prices. In addition, this could lead to increased tension between Iran and Saudi Arabia, and, according to analysts, between Iran and Russia.

All known industrial oil accumulations of Iran are located in the oil and gas basin of the Persian Gulf.

Almost the entire oil sector of the Iranian economy is completely controlled by the state-owned National Iranian Oil Company (Sharkat Malli Naft Iran; National Iranian Oil Company, NIOC).

Organizationally, oil exploration, production and refining are carried out through subsidiaries, some of which allow access to private capital, including foreign capital: National Iranian South Oil Company, Central Iranian Oil Fields Company, National Iranian Central Oil Company, National Iranian Offshore Oil Company, National Iranian Drilling Company, Khazar Oil Exploration and Production Company, North Drilling Company, Iran Petro Development Company, Pars Oil and Gas Company, Petropars, etc.

However, now, in connection with the upcoming lifting of sanctions, Iran is seeking to invite as many large international oil and gas companies as possible to develop Iranian fields.

3. Canada

Proven oil reserves (barrels): 173.2 billion

Canada exports oil to the US and Europe. Overall, it is the largest foreign supplier of oil to the United States.

However, recent reports suggest that oil produced from Canada's oil sands is nearly 20% more carbon-intensive than other types of oil.

This means that “if Canada exports more oil to the United States over time, greenhouse gas emissions from American cars will rise even if gasoline consumption remains the same,” OilPrice.com notes.

Oil fields in Canada (more than 95%) are located in Alberta - in the tar sands, where exploration of these lands requires large quantity fresh water and energy costs.

2. Saudi Arabia

Proven oil reserves (barrels): 268.4 billion

Saudi Arabia was the largest player in the oil market last year.

Last November, Saudi Arabia, like other OPEC members, refused to cut oil production quotas after oil prices began to decline.

In addition, Iran wants to “double oil exports immediately after sanctions are lifted and is pushing other OPEC members to review the organization's quota system,” which could significantly impact Saudi Arabia's oil industry.

The natural conditions of the location of oil reserves make it possible to produce oil at perhaps the lowest unit costs in the world. In view of this, in this country, activities for the exploration and development of new oil resources are constantly ongoing.

Saudi Aramco, as part of a large-scale program, is successfully conducting geological exploration to find deposits oil reservoirs in the coastal area of ​​the Red Sea.

1. Venezuela

Proven oil reserves (barrels): 297.7 billion

“Venezuela remains heavily dependent on oil revenues, which account for approximately 96% of export earnings, about 40% of government revenues and 11% of GDP,” according to the CIA Factbook.

Accordingly, the decline in oil prices in 2014, as well as the recession, led to a decline in the Venezuelan economy. And now the country is looking for allies among other OPEC member countries in the hope of stabilizing oil prices.

About 20% of the oil produced in Venezuela is extracted from fields in the Gulf of Maracaibo. The country's largest oil fields are Lagunillas, Bachaquero, El Furrial, Centro, Mulata, Lama.

Vladimir Khomutko

Reading time: 5 minutes

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Volume of oil production of leading countries

Countries of the world that are rich in oil and have significant reserves of this mineral have a strong influence on world economy, since petroleum product producers around the world depend on regular supplies of hydrocarbon raw materials, without which existence is impossible modern economy. Global oil refining and chemical production consume truly colossal volumes of raw materials, and therefore the world’s gas volume is colossal.

Oil production and natural gas for their subsequent export to many countries of the world brings the lion's share budget revenues, in connection with which the oil and gas industry are advanced sectors of their economies.

In one day, about one hundred million barrels of “black gold” are produced in the world. The top three largest oil powers are Russian Federation, Saudi Arabia and the United States of America. It is these three countries that supply 30 percent of all traded oil.

Volume of oil production by country of the world

What other countries in the world are engaged in such production, and what volume of oil do they supply to the market? Below we will look at the leading countries in oil production, starting from tenth place and up to the top three.

10th place. Venezuela

The daily volume of oil production in this country is 2.5 million barrels, which allows it to open the world TOP-10 in this area.

The Venezuelan economy is heavily dependent on hydrocarbon sales. Suffice it to say that 96% of exports come from this mineral. Venezuelan raw materials account for 3.65% of the total volume of oil supplied to the market. But if we talk about the reserves of this energy resource, then Venezuela is in first place in the world. According to experts, their level is about 46 billion tons.

9th place. United Arab Emirates

The UAE, which produces 2.7 million barrels per day, rightfully occupies this place of honor. The share of hydrocarbon raw materials supplied to the world markets is 3.81%.

The main deposits are located in the emirate of Abu Dhabi (approximately 95%), the remaining 5% are located in the emirates of Sharjah and Dubai. The total amount of natural reserves in the UAE is estimated at 13 billion tons. The main importers of this mineral from the UAE are India, Thailand, Japan, Korea, China and Singapore.

8th. Kuwait

Daily production level of 2.8 million barrels.

bring Kuwait to eighth place in the TOP 10 largest producers. Unused liquid natural hydrocarbons in Kuwait account for 9% of the world's total and are estimated by experts at 14 billion tons of “black gold”.

Kuwait holds a 3.90% share of the oil market.

Kuwait's largest field is Greater Burgan, which accounts for half of all extracted raw materials. Another 50% comes from Kuwaiti fields such as Umm Gudair and Minagish, located in the south of Kuwait, and Sabriah and Raudhaiten, located in the northern part of Kuwait. Kuwait's main exports are to Morocco, Jordan, Syria, China and the UAE.

7th. Iraq

The daily volume of oil produced in Iraq is 3 million barrels, which allows it to occupy a prominent place among the main producers of this raw material in the world.

Despite the difficult political situation, Iraq is gradually increasing the production of this raw material, since its economy is heavily dependent on its exports. The revenue side of the Iraqi budget consists of 90% of revenues from oil exports.

In the world, Iraqi hydrocarbons account for approximately 4.24%.

The total reserve of unused resources is 20 billion tons.

6th place. Iran

It supplies over three million barrels daily.

This Middle Eastern country is a major oil power with huge reserves of this useful energy resource. The bulk of hydrocarbons here are extracted from fields located in the Persian Gulf basin. According to experts, the already discovered Iranian deposits will last for almost ninety years, since their level is estimated at 21 billion tons. This is the third indicator in the world.

Iran's percentage in the market for this energy resource is 4.25%.

The main importers are Japan, China, India, South Korea and Türkiye. Half of Iran's export revenues consist of proceeds from the sale of “black gold.”

5th place. Canada

It also supplies more than three million barrels per day.

Canada opens the top five exporters of this product. The largest deposit of this mineral in Canada is located in the province of Alberta. Recently, Canada has become the largest supplier of hydrocarbons to its neighbors, the United States. More than 90% of Canadian crude hydrocarbons are exported here.

Canada holds 4.54% of the oil market.

It has enormous reserves of this mineral, which are estimated at approximately 28 billion tons. According to this indicator, Canada is among the top three in the world.

4th. China

The daily volume of oil, equal to 4 million barrels, rightfully puts the People's Republic of China in fourth place in the oil production ranking.

Chinese “black gold” in the world is 5.71%.

The population of the PRC is huge, so China is not only one of the leading exporters, but also one of the leaders in consumption of this energy resource. The amount of explored Chinese hydrocarbons is relatively small - 2.5 billion tons. One of the main exporters of “black gold” for China is Russia.

Third place - United States of America

Opens the “big three” main producers of this product in the United States - 9 million barrels. daily, 11.80% of global production.

The United States is not only a leading exporter, but also the world's largest importer of hydrocarbons and petroleum products. The main deposits are concentrated in three American states - Texas, Alaska and California. In case of any possible unforeseen circumstances The United States holds the world's largest strategic reserve of already produced hydrocarbons.

Second place. Saudi Arabia

10 million barrels is the daily volume of oil produced in this country.

Saudi Arabia has long been rightfully among the leaders in the production of hydrocarbons, on which its entire economy rests. The main export regions are the USA and East Asia. The share of export revenues received from the sale of hydrocarbons in the total amount of such revenues in this state is approximately 90 percent. All fields in Saudi Arabia are developed by the national company Saudi Aramco.

Liquid hydrocarbons supplied from Saudi Arabia on the global market are 13.23%.

Explored resources are estimated at 36.7 billion tons.

And finally, the leader of the rating is Russia

Daily production is more than 10 million barrels.

Confident first place. Russia has long been considered one of the richest in the world, not only in terms of the amount of “black gold”, but also a real storehouse of other types of minerals - coal, non-ferrous metals, natural gas and so on. The total volume of explored Russian hydrocarbons is more than 14 billion tons.

The percentage of the Russian Federation in the total amount of mined “black gold” is 13.92 percent.

Trends for 2017

A sharp drop in oil prices, which was provoked by a sharp increase in production

The main energy resource on a planetary scale is still oil and gas. Even despite the development of technology and the improvement of technical devices, alternative sources cannot yet satisfy humanity’s need for energy. Hundreds of thousands of drilling rigs pump out several million barrels of oil every day.

Scientists monitoring the situation with the world's hydrocarbon reserves are inclined to believe that the explored oil reserves will last for about a century, after which humanity will have to look for new ways to extract “black gold” or switch to other types of energy resources.

Rating of countries by oil reserves

The main suppliers of hydrocarbon energy resources to the world market are ten countries, including the Russian Federation. The list of main exporters also includes: Saudi Arabia, UAE, China and the USA. The main reserves of raw materials are concentrated in the bowels of the Russian Federation, the USA and the United States. These countries collectively supply the market with up to 2/5 of the total export volume.

Bloomberg experts have compiled a consolidated rating of countries making a significant contribution to the production and sale of hydrocarbon resources. The reserves of these particular states are considered by scientists to determine the period for which the oil in the developed fields will be sufficient:

Reserves in Russia

The state became the leader in oil production in 2017, increasing the figure to 10.5 million barrels. Currently, production has increased to 11.5 million barrels. Up to 90% of all state reserves are concentrated in unexplored and unexploited deposits, and only 10% are reserves that should be sufficient for the next century. In general, we are talking about a volume equal to 11-15 billion tons of hydrocarbons suitable for processing and available for production.

Reserves in Saudi Arabia

The main exporter of petroleum products and raw materials to Asian and American countries. The sandy “ocean” makes it possible to produce up to 10.4 million barrels daily, and the cost of raw materials is much lower than in other countries. The economy of this country is almost 100% dependent on the sale of oil, and it will last for at least another century.

US stocks

The state is actively producing, purchasing, processing and consuming hydrocarbon raw materials. Unlike Russia, the United States contains mainly light oil, the main volumes of which are concentrated in Texas, Alaska and California. Average daily US production is about 8 million barrels and this figure will increase if the policies of the current administration do not change. In addition to production, the United States is actively purchasing hydrocarbons, creating strategic reserves in underground storage facilities. The accumulated reserves will last the States for several decades.

Reserves in China

Chinese enterprises produce about 4 million barrels per day, which only partially satisfies the country’s internal needs. The state is one of largest consumers imported oil, the largest volume of supplies falls on the Russian Federation.

Reserves in Iraq

The once prosperous oil power, which owned the vast majority of the Middle East's fields, now produces less than 4 million barrels per day. The reason for the decline in oil production is the ongoing conflict. After the fall of Hussein's regime, Iraq's neighbors began to actively develop nearby fields and modernize their own technical resources.

Reserves in Iran

One of the world leaders in hydrocarbon reserves (Iranian oil will last for more than a hundred years). There is a low production rate, only about 3 million barrels. per day, affected by several decades of export restrictions imposed by Western countries. Currently, some restrictions have been lifted and Iran is allowed to trade raw materials. Experts believe that very soon this Middle Eastern country will take its rightful place next to the largest exporters of raw materials.

Reserves in Canada

A country where half of its area is unsuitable or completely unsuitable for life. It should also be noted that there are difficult conditions for the extraction of raw materials, most of which are located in hard-to-reach areas. Canada was one of the first countries to begin the search alternative ways production, both on land and at sea. The oldest and largest field is located in the province of Alberta; development here began during the years of the British Dominion. Canadian oil is characterized by high production costs due to the use of complex technologies and expensive equipment; this country is suffering more than others from falling energy prices. But at the same time, the reserves are enough to provide a comfortable life for ten generations. About 2.9 million barrels are produced. daily.

Reserves in Kuwait

The country has largely recovered from the destruction of its entire oil-producing infrastructure by Hussein's retreating forces in the 1990s. Kuwait produces about 2.8 million barrels. per day. The “black gold” reserves of this Middle Eastern country will last for many decades. In addition, the extracted raw materials are of light grades, that is, they have a low cost. Development in Kuwait is carried out by both national and international companies; a large percentage of the market belongs to American oil producers.

Reserves in Venezuela

Occupying one of the bottom lines of the list of ten largest oil producers, this Latin American state tops the ranking of countries with the richest oil and gas reserves. In the depths of Venezuela lies up to 46 billion tons of “black gold”; no other region can boast of such volumes. It will take more than a century to exhaust the region’s reserves, especially given the low production rates of only 2.8 million barrels. per day. According to experts, Venezuelan oil is enough to fill all the world's storage facilities several times over. The state's economy is entirely dependent on world prices for hydrocarbon raw materials; the budget is formed from sales revenues of almost 96%.

Reserves in the UAE

The Arab state serves almost 4% of the world market, with daily production of no more than 200 thousand barrels. Such low volumes, compared to the leaders of the rating, fully satisfy domestic needs and make it possible to build a prosperous state. The main consumers of Arab oil are Asian countries, in particular Japan and India. At the current rate of oil production in the UAE, there will be enough oil for more than a century. According to company reports, the main production capacities are concentrated in the emirate of Abu Dhabi, which supplies 95% of the market segment served. It should be noted that the raw materials mined in the region are of light grades.

Conclusion

This rating is periodically updated; countries reduce or increase volumes depending on various factors, be it price, the emergence of new technologies, or the aggravation of geopolitical conflicts. Regardless of the composition and location of the countries, the list will be relevant for a very long time. It is enough to add up the existing indicators of global hydrocarbon reserves and subtract the amount of extracted raw materials from the resulting value to see that it will be enough for more than one generation of people, or even ten.

Skeptics who talk about the depletion of world reserves do not take into account the volumes of raw materials that are located in hard-to-reach regions of Russia, Canada and South America. If necessary, humanity will find a way to gain access to these deposits located in undeveloped deposits. It is possible that before then, markets will see significant fluctuations in the price of raw materials, caused by shortages or surpluses (at different times). But as for today, there is no need to fear a sudden depletion of sources.

Latest scientific research allow us to classify oil as a renewable resource. Of course, its volume is not restored as quickly as trees grow, but the fact of regeneration of deposits has already been proven.

As of the beginning of 2014, almost 80% of the world's oil reserves are concentrated in eight countries. Most of them occur in OPEC countries. The exceptions are Canada and Russia, which are not members of the organization. The list of leaders in world reserves is as follows:

Venezuela - reserves 298.3 billion barrels. (share in world reserves -17.7%);
- Saudi Arabia - 265.9 billion barrels. (15.8%);
- Canada - 174.3 billion barrels. (10.3%);
- Iran - 157.0 billion barrels (9.3%);
- Iraq - 150.0 billion barrels. (8.9%);
- Kuwait - 101.5 billion barrels. (6.0%);
- UAE - 97.8 billion barrels. (5.8%);
- Russia - 93.0 billion barrels. (5.5%);
- Libya - 48.5 billion barrels. (2.9%);
- USA - 44.2 billion barrels. (2.6%);
- Nigeria - 37.1 billion barrels. (2.2%);
- Kazakhstan - 30.0 billion barrels. (1.8%);
- Qatar - 25.1 billion barrels. (1.5%);
- China - 18.1 billion barrels. (1.1%);
- Brazil - 15.6 billion barrels. (0.9%).

It is worth noting that the indicated reserves reflect only that part of the resource base that can be extracted today, taking into account the current economic situation and developed production technologies.

Largest countries by oil production

The country can be included among the largest oil-producing states not only on the basis of proven reserves, but also in terms of the intensity of oil production. Moreover, the ratings of the main states oil market will be different.

In terms of oil production volumes, Saudi Arabia holds the leading position with a share of 13.1%. At the end of 2013, production volume amounted to 542.3 billion barrels, which is slightly lower than the 2012 value of 549.8 billion barrels. The country, in addition, is a leader in oil exports to the world market. The oil industry is key to Saudi Arabia, with its share of GDP exceeding 45%.

Russia traditionally ranks second (while in terms of reserves it is only in 8th place). The exceptions were 2009 and 2010, when Russia managed to get ahead of Saudi Arabia and take first position. In 2013, Russia provided 12.9% of world production, which corresponded to 531.4 billion barrels. Oil exports are a key item in the formation of the Russian budget, despite constant attempts to reduce its dependence on hydrocarbon supplies.

It is predicted that Saudi Arabia and Russia will be able to maintain their 12% share of global oil production in the medium term.

The USA is in third place. The country's share in world production is 10.8%, the volume of oil extracted is 446.2 billion barrels. It is noteworthy that oil production in the United States increased by 13.5% compared to 2012 levels. China owned 5% in 2013. Production at that time reached 208.1 billion barrels.

The top eight oil-producing countries also include Canada with a production volume of 193.0 billion barrels. (share - 4.7%), Iran - 166.1 billion barrels. (4.0%), Mexico - 141.8 billion barrels. (3.4%), Venezuela - 135.1 billion barrels. (3.3%). These countries also occupy very strong positions in the world market and are major oil exporters.