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Crude oil production by country

More than a hundred countries produce crude oil but only few of them can influence global prices.

27.Oct.16 12:29 AM
By Alesya Davydova


Crude oil production by country

There are more than a hundred in the world producing crude oil but not all of them have significant influence on global energy markets. Most generally all oil producers are divided into two large groups: OPEC and non-OPEC.

Today there are 14 countries in the Organization of the Petroleum Exporting Countries (OPEC): Islamic Republic of Iran, Iraq, Kuwait, Saudi Arabia, Venezuela, Qatar, Indonesia, Libya, the United Arab Emirates, Algeria, Nigeria, Ecuador, Gabon and Angola. According to the OPEC October report, in September its average daily output was 33.39 million barrels with an increase from Iraq, Nigeria and Libya, and a drop of production in Saudi Arabia.

Non-OPEC production in 2016 is estimated at an average of 56.84 million barrels per day, according to U.S. Energy Information Administration (EIA). The most important and influential oil producers are the United States of America and Russia. Together with the OPEC-member Saudi Arabia they make the top-3 global crude producers. Other market players are China, Canada, Mexico, Brazil, Norway, Kazakhstan and India.

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