| # | Country | Oil Reserves (barrels) in 2016 |
|---|---|---|
| 1 | Venezuela | 299,953,000,000 |
| 2 | Saudi Arabia | 266,578,000,000 |
| 3 | Canada | 170,863,000,000 |
| 4 | Iran | 157,530,000,000 |
Which is the richest oil country in the world?
Countries
| Proven reserves (millions of barrels) | U.S. EIA (start of 2020) | OPEC (end of 2017) |
|---|---|---|
| Country | Rank | Reserves |
| Venezuela (see: Oil reserves in Venezuela) | 1 | 302,809 |
| Saudi Arabia (see: Oil reserves in Saudi Arabia) | 2 | 266,260 |
| Canada (see: Oil reserves in Canada) | 3 | 4,421 |
What are the top 10 oil producing countries?
Top ten countries by oil production
- USA – 12,000,000bbl/day. …
- Russia – 11,200,000bbl/day. …
- Saudi Arabia – 11,113,710bbl/day. …
- Iraq – 4,451,516bbl/day. …
- Iran – 3,990,956bbl/day. …
- China – 3,980,650bbl/day. …
- Canada – 3,662,694bbl/day. …
- United Arab Emirates – 3,106,077bbl/day.
Who is the #1 producer of oil in the world?
List of countries by oil production
| Rank | Country | Oil production per capita 2017 (bbl/day/million people) |
|---|---|---|
| 1 | United States | 35,922 |
| 2 | Russia | 73,292 |
| 3 | Saudi Arabia (OPEC) | 324,866 |
| 4 | Canada | 100,931 |
Can Saudi Arabia survive without oil?
Dubbed Vision 2030, the wide-ranging initiative unveiled with fanfare in 2016 aims to diversify the oil-dependent economy and attract foreign investment. … When he first launched his vision, Prince Mohammed said Saudi Arabia would be able to survive without oil by 2020.
How long will oil last in the world?
According to the U.S. Energy Information Administration’s (EIA) International Energy Outlook 2019 (IEO2019), the global supply of crude oil, other liquid hydrocarbons, and biofuels is expected to be adequate to meet the world’s demand for liquid fuels through 2050.
What are the top 5 oil consuming countries?
Main oil consuming countries: ranking by per capita consumption (2018) In 2018, Saudi Arabia, the USA, Canada, South Korea, Japan, Germany, Russia, Brazil, China and India were the top 10 oil consuming countries (see chart World top 10 oil consumers in 2018).
Who is the biggest exporter of oil?
Searchable List of Crude Oil Exporting Countries in 2019
| Rank | Exporter | 2018-9 |
|---|---|---|
| 1. | Saudi Arabia | +0.01% |
| 2. | Russia | -5.9% |
| 3. | Iraq | -9.8% |
| 4. | Canada | +1.7% |
Who is the largest exporter of oil?
Russia leads for exports
Russia is the leading exporting country at around 9.19 million barrels per day. The majority of Russia’s oil exports in recent years have been crude oil, but Russia also exports oil products.
Where does US get its oil?
The top five source countries of U.S. gross petroleum imports in 2019 were Canada, Mexico, Saudi Arabia, Russia, and Colombia.
Who uses the most oil in the world?
The 10 biggest oil consuming nations account for more than 58% of the world’s total oil consumption per day. The United States is the world’s biggest oil consumer, followed by China, Japan and India.
Is America self sufficient in oil?
“We are not energy independent. We consume roughly 20 million barrels of crude oil each day. We only produce about 12.5 million barrels of crude oil each day.” Hirs said it is true that much of what the U.S. imports now comes from regions more stable than the Middle East.
How much oil is left in Saudi Arabia?
Oil Reserves in Saudi Arabia
Saudi Arabia has proven reserves equivalent to 221.2 times its annual consumption. This means that, without Net Exports, there would be about 221 years of oil left (at current consumption levels and excluding unproven reserves).
Is Saudi Arabia running out of money?
However, the IMF says that, without more significant reforms than those already announced, the financial wealth of Saudi Arabia, Kuwait, the UAE and others could be depleted by 2034.
Why Saudi Arabia has so much oil?
Originally Answered: Why is there so much oil in Saudi Arabia? because millions of years ago, a lot of marine life died, was deposited on the ocean floor, and over time was compressed into oil and preserved very well in that area. Beyond that, the oil is very high quality, so they export as much as they can.