Saudi Aramco is the World’s Biggest Oil Producer
The massive scale of Saudi Arabia’s oil reserves is being reflected by the world’s key producers. Saudi Aramco has grown dramatically over the past decade, upping its BOE (barrels of oil + natural gas equivalents) produced per day from 9.9 million in 2003 to 12.7 million in 2013.
According to Forbes, this impressive growth can be primarily attributed to big expansions like Khurais and Manifa with each contributing over 1 million more barrels per day. Gazprom comes second with 8.1 million BOE per day, a decline on 2003.
However, this decline in Russian oil production has been reversed by Rosneft, who are strongly backed by the Russian government and manage to churn out 4.6 million barrels per day. The National Iranian Oil Company rounds off the top three, producing 6.1 million BOE per day. This an improvement on 2003 when that number was 4.9 million.
- OPEC - share of total global crude oil production 2009-2015OPEC - share of total global crude oil production 2009-2015
- Oil production percent change by country 2013Oil production percent change by country 2013
- Russian oil production by company 2014Russian oil production by company 2014
- OPEC oil price annually 1960-2017OPEC oil price annually 1960-2017
- Monthly crude oil price average for UK Brent 2016-2017Monthly crude oil price average for UK Brent 2016-2017
- West Texas Intermediate annual average oil price 1976-2017West Texas Intermediate annual average oil price 1976-2017
- Monthly average crude oil prices of the OPEC basket 2016-2017Monthly average crude oil prices of the OPEC basket 2016-2017
- West Texas Intermediate (WTI) crude oil price monthly 2016-2017West Texas Intermediate (WTI) crude oil price monthly 2016-2017
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