Top Ten Oil Producing Countries in the World 2016

They possess the most important resource here in our planet. This resource is what makes countries run and their industries hum. Nations have gone to war because of this. This precious resource is the black gold called oil.

Having this resource is practically the ticket to industrialization and modernization. Nations who have been blessed with so much of this resource have seen their countries grow by leaps and bounds, as the abundant profits one can derive from oil can be translated into massive infrastructure projects and extensive welfare benefits.

Top Ten Oil Producing Countries in the World 2016

Top Ten Oil Producing Countries in the World 2014

Saudi Arabia :-

Saudi Arabia

Saudi Arabia, officially known as the Kingdom of Saudi Arabia, is the largest Arab state in Western Asia by land area and the second-largest in the Arab world. The Middle Eastern kingdom produces 13.24 percent of all the oil in the world, and they will continue to do so in the foreseeable future. They still have around 263 billion barrels in proven reserves, the second biggest in the world after Venezuela’s oil stock.

  • Oil Produce per day:-  11.75 million barrels
  • Capital: Riyadh
  • Dialing code: 966
  • Currency: Saudi riyal
  • Population: 28.29 million (2012) World Bank
  • King: Abdullah of Saudi Arabia
  • Colleges and Universities: King Abdulaziz University, more

United States of America :-

United States of America

The United States of America, commonly referred to as the United States, America or simply the States, is a federal republic consisting of 50 states and a federal district. They are the second largest oil producer with an 11.94 percent share in total production, but the United States is also one of the biggest consumers of the resource. Thus, despite its huge output and proven reserves amounting to nearly 21 billion barrels, the country still needs to import from other oil producing nations.  Government agencies believe that technically recoverable reserves can actually be as much as 219 billion barrels.

  • Oil Produce per day :- 10.59 million barrels
  • Capital: Washington, D.C.
  • Dialing code: 1
  • Founded: July 4, 1776
  • Population: 313.9 million (2012)
  • Gross domestic product: 15.68 trillion USD (2012) World Bank
  • Government: Presidential system, Federal republic, Constitutional republic

Russia :-

Russia

Russia or, also officially known as the Russian Federation, is a country situated in northern Eurasia. It is a federal semi-presidential republic, comprising 83 federal subjects.With an 11.64 percent share of world oil production, Russia is also considered a major oil producer. Their proven reserves stand at 60 billion barrels, meaning they have yet to fully explore the possibility of oil in Eastern Siberia. Preliminary estimates show that as much as 4.7 billion barrels can be drilled in that area.

  • Oil Produce per day :- 10.3 million barrels
  • Capital: Moscow
  • Dialing code: 7
  • President: Vladimir Putin
  • Population: 143.5 million (2012) World Bank
  • Government: Federal republic, Semi-presidential system, Constitutional republic
  • Official language: Russian Language

China :- 

China

China, officially the People’s Republic of China, is a sovereign state located in East Asia. It is the world’s most populous country, with a population of over 1.35 billion. China used to import all its oil up until the late 1950s, before the discovery of huge reserves in the northeastern part of the country. Their share in world production is at 4.7 percent, but like the United States, China is a huge oil consumer. The demand for the resource within the country is so great that not even a ramped-up production process is enough to satisfy the requirement. Their proven reserves stand at around 20.35 billion barrels.

  • Oil Produce per day :- 4.19 billion barrels
  • Capital: Beijing
  • Dialing code: 86
  • Population: 1.351 billion (2012) World Bank
  • Gross domestic product: 8.227 trillion USD (2012) World Bank
  • Government: Communist state, Socialist state, Single-party state
  • Official language: Standard Mandarin

Iran :-

Iran

Iran, also known as Persia, officially the Islamic Republic of Iran since 1980, is a country in Western Asia. Iran produces 4.6 percent of the world’s oil output, but none of it will go to the United States as a result of the strain in the relations of the two countries. Proven reserves are at 137 billion barrels, comprising 10 percent of conventional oil reserves. Iran is the second largest producer in the Organization of Petroleum Exporting Countries, or OPEC, after Saudi Arabia.

  • Oil Produce per day :- 4.13 million barrels
  • Capital: Tehran
  • President: Hassan Rouhani
  • Currency: Iranian rial
  • Population: 76.42 million (2012) World Bank
  • Official language: Persian Language
  • Government: Unitary state, Islamic republic, Theocracy

Canada :-

Canada

Canada is a country in North America consisting of 10 provinces and 3 territories. Located in the northern part of the continent, it extends from the Atlantic to the Pacific and northward into the Arctic Ocean.Canada owns 4.4 percent of the world’s oil production, but that number may grow once their unconventional sources start to yield productively. Oil has been discovered in their sands, but the technology to efficiently convert the resource is still being developed. Once it becomes economically viable, it is estimated that they may have as much as 179 billion barrels in reserves, the third largest after Venezuela and Saudi Arabia. most of its oil is located in the province of Alberta.

  • Oil Produce per day :- 3.92 million barrels
  • Capital: Ottawa
  • Dialing code: 1
  • Population: 34.88 million (2012) World Bank
  • Government: Federal monarchy, Constitutional monarchy, Parliamentary system
  • Provinces: Ontario, Québec, British Columbia, Alberta, Nova Scotia, more
  • Colleges and Universities: University of Toronto, more

United Arab Emirates :-

United Arab Emirates

The United Arab Emirates, ometimes simply called the Emirates or the UAE, is a country located in the southeast end of the Arabian Peninsula on the Persian Gulf, bordering Oman to the east and Saudi Arabia to the south, as well as sharing sea borders with Qatar, Iran and Pakistan.The different emirates have been producing oil amounting to 3.6 percent of the world’s production. They still have reserves of as much as 98 billion barrels. Most of the oil is in Abu Dhabi with 92 billion barrels. Dubai has 4 billion barrels, while Sharjah has around 1.5 billion barrels. The UAE has been using their resource judiciously, with plans to increase production to about 5 million barrels per day two years from now. At that rate, the country would have enough oil to produce for the next 93 years.

  • Oil Produce per day :- 3.23 million barrels
  • Capital: Abu Dhabi
  • Dialing code: 971
  • Currency: United Arab Emirates dirham
  • National anthem: Ishy Bilady
  • Population: 9.206 million (2012) World Bank
  • Colleges and Universities: United Arab Emirates University, more

Mexico :-

Mexico

Mexico, United Mexican States is a federal republic in North America. It is bordered on the north by the United States; on the south and west by the Pacific Ocean; on the southeast by Guatemala, Belize, and the Caribbean Sea; and on the east by the Gulf of Mexico. Covering almost two million square kilometres (over 760,000 sq mi), Mexico is the fifth largest country in the Americas by total area and the 13th largest independent nation in the world. With an estimated population of over 113 million. Mexico has 3.3 percent of the world’s production of oil.

Of the 2.95 million barrels they produce each day, more than a third are exported to the United States. The revenues from their oil trade account for 10 percent of all their export earnings, which underscore the importance of the industry to the nation. There have been new oil fields that have been discovered, which would hopefully add to the country’s proven reserves of 10.42 billion barrels. Unfortunately, a lot of their oil fields are in permanent decline, and this was highlighted in 2005 when production went down by about 500 thousand barrels per day.

  • Oil Produce per day :- 2.95 million barrels
  • Capital: Mexico City
  • Dialing code: 52
  • Currency: Mexican peso
  • Population: 120.8 million (2012) World Bank
  • Government: Presidential system, Federal republic, Constitutional republic
  • Official language: Spanish Language

Brazil :-

Brazil

Brazil, officially the Federative Republic of Brazil, is the largest country in both South America and the Latin American region. It is the world’s fifth largest country, both by geographical area and by population.Brazil has 3.15 percent of the world’s oil production, thanks mainly to the Lula oil field, which is the largest oil discovery in the Western Hemisphere in the last 30 years. It is located in the Santos Basin, which is 250 kilometers off the coast of Rio de Janeiro. Optimistic estimates put the figure at around 8 billion barrels of extractable oil. The country’s proven reserves are already at 12.86 billion barrels, and this is expected to increase with the discovery of the Jupiter oil field, which is located around 37 kilometers east of Lula.

  • Oil Produce per day :- 2.8 million barrels
  • Capital: Brasília
  • Dialing code: 55
  • Currency: Brazilian real
  • Population: 198.7 million (2012) World Bank
  • Official language: Portuguese Language
  • Government: Presidential system, Federal republic, Constitutional republic

Kuwait :-

Kuwait

Kuwait, officially the State of Kuwait, is an Arab country in Western Asia. Situated in the northeastern edge of the Arabian peninsula at the tip of the Persian Gulf, it shares borders with Iraq to the north and Saudi Arabia to the south. Oil was discovered in Kuwait in 1938, and it has not stopped flowing since then. They own a 3.1 percent share of all oil production, and they still have a proven reserve level of 104 billion barrels.

  • Oil Produce per day :- 2.75 million barrels
  • Capital: Kuwait City
  • Dialing code: 965
  • Currency: Kuwaiti dinar
  • Population: 3.25 million (2012) World Bank
  • Government: Hereditary monarchy, Unitary state, Constitutional monarchy
  • Colleges and Universities: Kuwait University, more

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