World Ranking by Oil Production

With the term "black gold" today even a child is familiar. The possession of high oil reserves and supplied oil production allowed many countries to literally step out of poverty into a new life. So, almost completely on the oil "grown" the welfare of countries such as Kuwait, the United Arab Emirates and Saudi Arabia.

Today we present world oil production rating .Taking into account the fact that the United States has actively taken up increasing production of "black gold", Russia's first place next year is likely to be in question.

10. United Arab Emirates( 960 million barrels per year)

Emirates are systematically reducing the volume of oil production and the share of the oil sector in the economy of the country. The state actively develops trade, re-export and tourism. Nevertheless, the share of the oil and gas industry in the UAE's GDP is just under 25%.

9. Kuwait( 1 billion barrels)

In the 1960s it was oil that gave Kuwait freedom from British influence. About 9% of the world's oil reserves are located on the territory of the country. The share of the oil sector in GDP exceeds 50%, and 95% of exports are made up of crude oil and refined products.

8. Mexico( 1.1 billion barrels)

Mexico accounts for about 3% of global oil production. Because of poorly developed processing industry, Mexico exports crude oil and at the same time imports oil products, buying them from the United States.

7. Iran( 1.1 billion barrels)

Approximately 45% of the country's budget revenues come from the sale of oil. The main buyers of Iranian oil are China, India, Japan, Turkey, South Korea and Italy.

6. Iraq( 1.1 billion barrels)

The development of the oil field in the country is carried out by two state companies - North Oil and South Oil Company. Exports of oil provide 98% of Iraq's budget revenues. In comparison with last year's rating, Iraq rose by 2 lines, increasing the pace of oil production.

5. Canada( 1.4 billion barrels)

Canada accounts for almost 5% of global oil production. The developed processing industry allows Canada to completely abandon the import of oil products, providing its own needs independently.

4. China( 1.5 billion barrels)

Despite the fact that the growth of the Chinese oil industry is almost 3% per year, the country imports oil, buying it mainly from countries such as Iran and Iraq. China accounts for 5.1% of the world oil production market.

3. Saudi Arabia( 3.6 billion barrels)

Saudi Arabia's share in global oil production is almost 12%.The growth rate is more than 5% per year, which is an impressive indicator. Meanwhile, from the second row of last year's rating, Saudi Arabia was replaced by the United States.

2. US( 3.7 billion barrels)

The states demonstrate the most impressive growth in the oil production sector - almost 11% per year. To date, the country accounts for 12.2% of the world's production of "black gold".

1. Russia( 3.8 billion barrels)

Russia is increasingly difficult to maintain the lead in oil production. The country does not have enough reserves for a qualitative increase in production, so the growth is only 1.3% per year. If this growth rate continues, Russia will be on the third line of the rating in a year, after the United States and Saudi Arabia.