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Crude oil production share of leading oil-producing countries 2018

Share of global crude oil production among the leading oil-producing countries in 2018

by M. Garside, last edited Jun 12, 2019
Crude oil production share of leading oil-producing countries 2018 This statistic shows the share of global crude oil production of the leading oil-producing countries in 2018. Crude oil production includes crude oil, shale oil, oil sand and NGLs (natural gas liquids: liquid content of natural gas in which the condensate is recovered separately). It excludes liquid fuels from other sources such as biomass and coal derivatives. In 2018, Kuwait accounted for 3.2 percent of global oil production.
Global crude oil supply

Saudi Arabia, the United States, and Russia are among the world’s largest producers of crude oil, accounting for 12.8 percent, 13 percent, and 12.6 percent of the global share, respectively, as of 2017. As of that year, Saudi Arabia produced more than 12 million barrels of oil per day. Unsurprisingly, these countries are also some of the world’s largest consumers of oil. In 2015, Saudi Arabia consumed 3.2 million barrels per day and the United States consumed about 19.4 billion barrels per day. In the past, the U.S. relied heavily on oil imports from countries like Saudi Arabia. However, less than 30 percent of the petroleum currently consumed in the U.S. originates from foreign sources. In 2017, over 15.5 million barrels per day of OPEC oil exports were destined for the Asia and Pacific regions. In North America, OPEC oil exports have decreased from 4.7 million barrels per day in 2012 to 3.2 million barrels per day in 2017. Some predict that by 2020, the only foreign oil imported to the United States will originate from Canada. The practice of hydraulic fracturing has been largely responsible for the sudden decline in oil dependency in the country. This practice has been highly controversial due to its harmful impacts on the environment. However, citizens are fairly split in their opinions of the methodology with 40 percent in favor and 40 percent opposing.
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Share of global crude oil production among the leading oil-producing countries in 2018

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