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Crude Oil Facts Summary
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by Vaughn Aubuchon

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 800 lb. gorilla. It has the most oil reserves, greatest oil production, and is the largest US supplier.
.

-

300

140

  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
was last updated on 2017-10-27.