The euphoria on whether there is another crisis brewing in the economies never die. This kept me thinking about the effect of crude oil prices effecting the global economies(apart from inflation,interest rates,stock markets etc).
This led me to research which are the countries contributing to the oil reserves for the world economies and at what proportions.
Interesting subject to ponder into and we have the below statistics. Hope this can surprise many...
Largest Producers of oil in the world – Rankings
15 Brazil
Proved oil reserves: 11.65 billion barrels
Proportion of world total: 0.95%
Daily Oil Statistics (2009):
Total oil production: 2.57 million barrels
Consumption: 2.52 million barrels
Exports to the US: 295,000 barrels (Dec 2010)
14. United States
Proved oil reserves: 19.2 billion barrels
Proportion of world total: 1.42%
Daily Oil Statistics (2009):
Total oil production: 9.14 million barrels
Consumption: 18.81 million barrels
13. China
Proved oil reserves: 20.4 billion barrels
Proportion of world total: 1.51%
Daily Oil Statistics (2009):
Total oil production: 3.99 million barrels
Consumption: 8.32 million barrels
Exports to the US: 8,000 barrels (Dec 2010)
12. Qatar
Proved oil reserves: 25.4 billion barrels
Proportion of world total: 1.88%
Daily Oil Statistics (2009):
Total oil production: 1.21 million barrels
Consumption: 147,000 barrels
Exports to the US: 16,000 barrels (Dec. 2010)
11. Kazakhstan
Proved oil reserves: 30 billion barrels
Proportion of world total: 2.22%
Daily Oil Statistics (2009):
Total oil production: 1.54 million barrels
Consumption: 241,000 barrels
Exports to the US: 21,000 barrels (Dec. 2010)
10. Nigeria
Proved oil reserves: 37.2 billion barrels
Proportion of world total: 2.75%
Daily Oil Statistics (2009):
Total oil production: 2.21 million barrels
Consumption: 272,000 barrels
Exports to the US: 1.07 million barrels (Dec. 2010)
9. Libya
Proved oil reserves: 44.3 billion barrels
Proportion of world total: 3.27%
Daily Oil Statistics (2009):
Total oil production: 1.79 million barrels
Consumption: 264,000 barrels
Exports to the US: 66,000 barrels (Dec. 2010)
8. Russia
Proved oil reserves: 60 billion barrels
Proportion of world total: 4.43%
Daily Oil Statistics (2009):
Total oil production: 9.93 million barrels
Consumption: 2.74 million barrels
Exports to the US: 514,000 barrels (Dec. 2010)
7. United Arab Emirates
Proved oil reserves: 97.8 billion barrels
Proportion of world total: 7.22%
Daily Oil Statistics (2009):
Total oil production: 2.79 million barrels
Consumption: 492,000 barrels
Exports to the US: 10,000 barrels (Sept. 2010)
6. Venezuela
Proved oil reserves: 99.4 billion barrels
Proportion of world total: 7.34%
Daily Oil Statistics (2009):
Total oil production: 2.47 million barrels
Consumption: 723,000 barrels
Exports to the US: 917,000 barrels (Dec. 2010)
5. Kuwait
Proved oil reserves: 101.5 billion barrels
Proportion of world total: 7.5%
Daily Oil Statistics (2009):
Total oil production: 2.5 million barrels
Consumption: 372,000 barrels
Exports to the US: 125,000 barrels (Dec. 2010)
4. Iraq
Proved oil reserves: 115 billion barrels
Proportion of world total: 8.5%
Daily Oil Statistics (2009):
Total oil production: 2.4 million barrels
Consumption: 636,000 barrels
Exports to the US: 336,000 barrels (Dec. 2010)
3. Iran
Proved oil reserves: 137.6 billion barrels
Proportion of world total: 10.16%
Daily Oil Statistics (2009):
Total oil production: 4.18 million barrels
Consumption: 1.69 million barrels
Exports to the US: 0
2. Canada
Proved oil reserves: 175.2 billion barrels
Proportion of world total: 12.94%
Daily Oil Statistics (2009):
Total oil production: 3.29 million barrels
Consumption: 2.15 million barrels
Exports to the US: 2.71 million barrels (Dec. 2010)
1. Saudi Arabia
Proved oil reserves: 259.9 billion barrels
Proportion of world total: 19.20%
Daily Oil Statistics (2009):
Total oil production: 9.76 million barrels
Consumption: 2.43 million barrels
Exports to the US: 1.09 million barrels (Dec. 2010)
Sd/-
Roohul Haq
