Oil Producing Countries 2021

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Oil is one of the top money-making commodities in the world today. Ever since the year 2016, the world has experienced a serious climb in terms of oil prices and the ever-increasing demand for oil. The production of oil is a process that only stops if there is no more oil to extract. Inflation and the ratio of supply-and-demand in the oil industry have kept oil rates at an all-time high, which has forced oil extraction rates to skyrocket.

This is not necessarily the best action to take because it does cause pollution and damage to the atmosphere. Still, as of right now, there is slight chatter regarding cutting oil production among countries that produce oil. Oil production is measured in barrels per day or BPD. This is quite literally a headcount of how many oil barrels a country fills with the oil it extracts daily. To put the measurement in perspective, a barrel of oil equates to about 0.03 gallons of oil per minute, if you can imagine the magnitude of that much oil.

The natural oil source is the plethora of oil wells all around the globe, of course. The interesting part about oil wells is that they do not only trap oil. Excess water and other natural gases are trapped in the wells, too, so miners must separate the unnecessary water retention and additional gas before containing oil in barrels.

Here is a list of the top ten countries next to their respective barrels per day (BPD) rates:

  1. Russia - 10.58 million BPD
  2. Saudi Arabia - 10.13 million BPD
  3. United States - 9.352 million BPD
  4. Iran - 4.469 million BPD
  5. Iraq - 4.454 million BPD
  6. Canada - 3.977 million BPD
  7. China - 3.383 million BPD
  8. United Arab Emirates - 3.174 million BPD
  9. Kuwait - 2.753 million BPD
  10. Brazil - 2.622 million BPD

Let's detail the amount of oil that three of these ten countries are responsible for producing, starting with the USA.

The United States

With a rough estimate of 9,352,000 barrels per day, the United States has been a top oil-producing country for years upon years. The US is also one of the greatest consumers of oil worldwide. The production of oil is an industry that the United States should not anticipate seeing a drop in any time soon, considering the country's dependency on producing oil in terms of economic standing.

Despite being the third-largest oil producer, the United States also purchases and imported upwards of 7.5 billion barrels of oil-related items. If you combine the production of oil and the consumption of oil in the United States alone, you come up with over 15 million BPD of petroleum.

China

China is ranked as the seventh-largest oil-producing country. This shows that the population size and the total area of a nation do not have much to do with oil production. Instead, it comes down to the country's knowledge about where to find oil and the rules governing which countries can and cannot extract in certain parts of the world.

China produces about 3,838,000 barrels of oil per day. Most of the oil that China produces is extracted from regions in the Middle Eastern country of Iran. This world region has forever been a touchy subject, especially where discussions on oil are involved. That said, China has always been on a tightrope, hoping to have Iran as an oil source for years to come. Over the years, China has watched as its oil production rates have slowly dropped.

Kuwait

The ninth-largest producer of oil is Kuwait. Unlike many oil-producing countries, this Western Asian nation experienced a severe drop in oil production rates between 2016 and 2020. In 2016, Kuwait derived 3,072,000 barrels per day of oil, compared to the rate of 2,753,000 BPD in 2020. This is not a good sign for Kuwait's economy, as oil makes up 60% of its GDP. A drop in oil production will continue to impact the country's economic standing unless government officials find a way to up Kuwait's oil production rates or find another industry to invest in. Kuwait relies on oil for just over 95% of its entire revenue stemming from exports, so the decline in Kuwait's oil production is stressful for the nation.

Here are the 10 countries with the highest oil production:

  1. United States (12,108)
  2. Russia (10,835)
  3. Saudi Arabia (9,580)
  4. Iraq (4,620)
  5. Canada (4,129)
  6. China (3,823)
  7. United Arab Emirates (3,068)
  8. Kuwait (2,652)
  9. Brazil (2,604)
  10. Iran (2,213)

Oil Producing Countries 2021

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Oil Producing Countries 2021

Country Crude Oil Production (thousands barrels per day) 2021 Population
United States12,108332,915,073
Russia10,835145,912,025
Saudi Arabia9,58035,340,683
Iraq4,62041,179,350
Canada4,12938,067,903
China3,8231,444,216,107
United Arab Emirates3,0689,991,089
Kuwait2,6524,328,550
Brazil2,604213,993,437
Iran2,21385,028,759
Nigeria1,948211,400,708
Mexico1,698130,262,216
Kazakhstan1,63418,994,962
Qatar1,5102,930,528
Norway1,3985,465,630
Angola1,25933,933,610
United Kingdom1,08268,207,116
Libya1,0786,958,532
Algeria1,03244,616,624
Oman9705,223,375
Venezuela90628,704,954
Colombia89051,265,844
Azerbaijan76910,223,342
Indonesia759276,361,783
India6771,393,409,038
Egypt626104,258,327
Malaysia61732,776,194
Ecuador53117,888,475
Argentina50845,605,826
Australia35325,788,215
Republic Of The Congo3405,657,013
Thailand24269,950,850
Vietnam23398,168,833
Turkmenistan2176,117,924
Ghana21431,732,129
Gabon1802,278,825
Equatorial Guinea1561,449,896
Chad13616,914,985
Denmark1185,813,298
Pakistan92225,199,937
Brunei89441,532
Italy8160,367,477
Sudan7944,909,353
Romania7019,127,774
Cameroon6927,224,265
Yemen6130,490,640
Bolivia5911,832,940
Trinidad And Tobago591,403,375
Turkey5685,042,738
Peru5433,359,418
Papua New Guinea519,119,010
Cuba5011,317,505
Ivory Coast4927,053,629
Uzbekistan4133,935,763
Bahrain401,748,296
Germany3983,900,473
Tunisia3711,935,766
Ukraine3443,466,819
Belarus319,442,862
New Zealand274,860,643
Syria2518,275,702
Mongolia203,329,289
Hungary199,634,164
Serbia168,697,550
Suriname16591,800
Dr Congo1592,377,993
Netherlands1517,173,099
Croatia144,081,651
Austria139,043,070
Albania132,872,933
Guatemala918,249,860
Niger725,130,817
Chile419,212,361
Mauritania44,775,119
Bangladesh3166,303,498
Japan3126,050,804
Czech Republic210,724,555
Lithuania22,689,862
Belize2404,914
Bulgaria16,896,663
Kyrgyzstan16,628,356
Barbados1287,711
Georgia0.403,979,765
Israel0.398,789,774
Slovakia0.205,460,721
Tajikistan0.189,749,627
Morocco0.1637,344,795
Slovenia0.012,078,724

Oil Producing Countries 2021