Top10 Oil Producing Countries in the World!

Though many alternate sources of energy are in use and new ones are being created, oil remains one of the most widely used source of energy. Its value still remains unquestionable in this regard. A lot of countries across the world that are rich in oil reserves are selling the domestically produced oil to other nations in order to generate great revenues. This has steadied the backbone of these nations’ economies and helped them survive economic ups and downs. Countries have often been compared in terms of their total oil production, i.e. production of crude oil, natural gas plant and other liquids and refinery processing gain. Let us have a quick look at the top 10 oil producing countries in the world:

1.) United States:

US has been successful in surpassing even Saudi Arabia in its total oil production and has secured number 1 position. From 11.06% in 2010 to 13.67% in 2013, over the years, its oil production has steadily increased through shell oil technology. On an average, US produces 12.3 million barrels of oil per day.

2.) Saudi Arabia:

Saudi Arabia has been the kingdom of oil production and its economy rides on it. From 12.16% in 2010 to 12.87% in 2013, over the years, its oil production has been somewhat high but steady. On an average, Saudi Arabia produces 11.6 million barrels of oil per day and enjoys second position.

3.)  Russia:

Russia is another largest oil producing nation in the world. At number 3, the country produces 10.5 million barrels of oil per day. From 11.60% in 2010 to 11.70% in 2013, the oil production of Russia has increased a little.

4.)  China:

Though China is one of the largest oil producing countries, placed at 4th position, it consumes more that its total production. On an average, it produces 4.5 million barrels of oil per day. From 4.98% in 2010 to 4.95% in 2013, the oil production in China has slightly reduced.

5.)  Canada:

Canada has acquired fifth position in the list of world’s largest oil producing nations. The country produces about 4.1 million barrels of oil per day. From 3.93% in 2010 to 4.52% in 2013, over the years, Canada’s oil production has steadily increased.

6.) United Arab Emirates:

On number six of top oil producing countries’ list is United Arab Emirates. The country is rich in oil reserves and produces about 3.23 million barrels of oil per day. Its contribution in the total oil production of the world is 3.59%

7.) Iran:

Iran stands at place 7 on the list of largest oil producing nations. The country produces about 3.19 million barrels of oil per day, on an average. Also, Iran’s contribution to the total oil production in the world is 3.54%.

8.) Iraq:

Iraq is also known for its oil production in the market and it has been successful in securing position 8 on the list. The country produces, on an average, about 3.06 million barrels of oil per day. The contribution of Iraq to the total oil production in the world is 3.40%.

9.) Mexico:

Another nation that made to the top 10 list of world’s top oil producing countries is Mexico. It has been placed at number 9. The country produces about 2.91 million barrels of oil per day, on an average. Also, Mexico’s contribution to the total oil production in the world is 3.23%.

10) Kuwait:

Last but not the least is Kuwait. It stands at number 10 on the list. The country produces, on an average, about 2.81 million barrels of oil per day. The contribution of Kuwait to the total oil production in the world is 3.12%.