| Rank | Country | Import value |
|---|---|---|
| 1 | Iraq | $23 billion |
| 2 | Saudi Arabia | $21.2 billion |
| 3 | Iran | $13 billion |
| 4 | Nigeria | $9.6 billion |
Who is the biggest consumer of oil?
The United States and China are two of the largest consumers of oil in the world, totaling 19.4 million barrels per day and 14 million barrels per day, respectively.
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Countries with the highest oil consumption worldwide in 2019 (in 1,000 barrels per day)
| Consumption in thousand barrels per day | |
|---|---|
| – | – |
Which state is the largest producer of oil in India?
The three largest producers of mineral oil or crude oil in India are Rajasthan (23.7%), Gujarat (12.5%), Assam (12.1%).
Who are the world’s top 5 oil consumers?
The Top Ten: Top Oil Consumers
| Rank | Consumers | Total Oil Consumption |
|---|---|---|
| 1. | United States | 20 |
| 2. | China | 13.6 |
| 3. | India | 4.3 |
| 4. | Japan | 3.9 |
Who is #1 oil producer?
United States
The United States is the top oil-producing country in the world, with an average of 19.47 million barrels per day (b/d), which accounts for 19% of the world’s production.
How many years of oil is left in the world?
The world has proven reserves equivalent to 46.6 times its annual consumption levels. This means it has about 47 years of oil left (at current consumption levels and excluding unproven reserves).
Which state of India have oil fields?
Oil production in India comes primarily from three onshore states, Assam, Gujarat and Rajasthan, which together account for more than 96 per cent of oil from onshore fields, and from the aged offshore Mumbai High Field.
Which state is the largest producer of oil?
Texas is by far the largest oil-producing state in the United States, with a total production of 1.85 billion barrels in 2019. In a distant second place is North Dakota, which produced 512.3 million barrels in the same year, and Virginia was the smallest producer at just 4,000 barrels.
Does India buy WTI?
This comes as India WTI crude oil imports from the USA have increased. India imports 80 percent of its total oil needs and the majority of it comes from members of the Organisation of Petroleum Exporting Countries (OPEC).
Where is oil used the most?
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.
What is the best oil in the world?
The best crude oil in the world is found in Malaysia. “Tapis, the Malaysian crude benchmark traded in Singapore, has for a long time held the title of the world’s most expensive grade.
What percentage of oil is used for fuel?
For many, a barrel of oil is almost synonymous with its most prominent product, gasoline. While almost 40% of a barrel of oil is used to produce gasoline, the rest is used to produce a host of products including jet fuel and plastics and many industrial chemicals.
What are the Big 3 oil companies?
10 Biggest Oil Companies
- #1 China Petroleum & Chemical Corp. (SNP)
- #2 PetroChina Co. Ltd. (PTR)
- #3 Saudi Arabian Oil Co. (Saudi Aramco) (Tadawul: 2222)
- #4 Royal Dutch Shell PLC (RDS. A)
- #5 BP PLC (BP)
- #6 Exxon Mobil Corp. (XOM)
- #7 Total SE (TOT)
- #8 Chevron Corp. (CVX)
Is oil still being formed?
If oil is constantly being formed by the heat and pressure of the earth’s mantle, is there enough oil to last us forever? The short answer is no. We’re quickly using up all the accessible oil in the planet’s crust, and it will take millions of years for more to form.