Crude Oil Facts Summary

Petrolium Facts

Crude Oil Facts Summary

This page shows where the U.S. fits in the global Crude Oil economy.

The chart below compares world crude oil reserves of major oil supplying nations, worldwide crude oil production and US crude oil imports. The 2001 data is shown for OPEC and non-OPEC nations. Saudi Arabia is the 800lb. gorilla. It has the most oil reserves, greatest oil production, and is the largest US supplier.

OPEC	World Reserves		World Supply			U.S. Demand
	Crude Oil Reserves		Crude Oil Production			Crude Oil - US Imports
	Billion barrels proven	% of World Reserves	Million barrels per day	Million barrels per year	% of World Prod- uction	Thousand barrels per day	Million barrels per year	% of U.S. Usage
Saudi Arabia	264.2	26%	8.73	3,186	12.8%	1,611	588,015	17.3%
Iraq	112.5	11%	2.45	894	3.6%	795	290,175	8.5%
U.A.E.	97.8	10%	2.42	883	3.5%	21	7,665	0.2%
Kuwait	96.5	10%	2.15	785	3.1%	237	86,505	2.5%
Iran	89.7	9%	3.82	1,394	5.6%	0	0	0
Venezuela	77.7	8%	3.07	1,121	4.5%	1,291	471,215	13.8%
Libya	29.5	3%	1.44	526	2.1%	0	0	0
Nigeria	22.5	2%	2.26	825	3.3%	842	307,330	9.0%
Qa'tar	15.2	2%	0.81	295	1.2%	0	0	0
Algeria	9.2	1%	1.45	529	2.1%	11	4,015	0.1%
Indonesia	5.0	1%	1.79	653	2.6%	40	14,600	2.6%
Total OPEC =	820	82%	30.4	11,092	44.4%	4,848	1,769,520	54.1%
Non-OPEC
U.S.	22.0	2%	9.02	3,292	13.2%	n.a.	-	-
Russia	50.0	5%	7.29	2,661	10.7%	0	0	0
China	10.0	1%	3.30	1,205	4.8%	13	4,745	0.1%
UK	10.0	1%	2.59	945	3.8%	244	89,060	2.6%
Norway	10.0	1%	3.41	1,245	5.0%	281	102,565	3.0%
Mexico	10.0	1%	3.59	1,310	5.2%	1,394	508,810	14.9%
Canada	10.0	1%	2.80	1,022	4.1%	1,356	494,940	14.5%
Argentina	10.0	1%	1.00	365	1.5%	0	0	0
Brazil	10.0	1%	1.00	365	1.5%	13	4,745	0.1%
Other	30.0	3%	4.00	1,460	5.8%	1,100	401,500	11.8%
Total Non-OPEC	172	17.2%	38.0	13,870	55.6%	4,401	1,606,365	47.2%

TOTALS =	991.8	99.2%	68.4	24,962	100.0%	9,249	3,375,885	101.3%
Should be =	1,000	100%	66.0	?	100%	9,328	3,404,720	100%
Source: www.eia.doe.gov Estimates and best guesses - check it out - it's not easy!

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This Vaughns World Crude Oil Facts Summary web page was updated on 2006-10-24.