XPost: soc.support.depression.family, alt.economics, seattle.politics

see the graph at: https://www.visualcapitalist.com/charted-worlds-biggest-oil-producers-in-2022/

Charted: The World’s Biggest Oil Producers Published 2 days ago on
September 21, 2023
By Pallavi Rao
Article/Editing:
Niccolo Conte
Graphics/Design:
Christina Kostandi
A chart with the per day production by the biggest oil producers in 2022.

Charted: The World’s Biggest Oil Producers in 2022
In 2022 oil prices peaked at more than $100 per barrel, hitting an
eight-year high, after a full year of turmoil in the energy markets in
the wake of the Russian invasion of Ukraine.

Oil companies doubled their profits and the economies of the biggest oil producers in the world got a major boost.

But which countries are responsible for most of the world’s oil supply?
Using data from the Statistical Review of World Energy by the Energy
Institute, we’ve visualized and ranked the world’s biggest oil producers.

Ranked: Oil Production By Country, in 2022
The U.S. has been the world’s biggest oil producer since 2018 and
continued its dominance in 2022 by producing close to 18 million barrels
per day (B/D). This accounted for nearly one-fifth of the world’s oil
supply.

Almost three-fourths of the country’s oil production is centered around
five states: Texas, New Mexico, North Dakota, Alaska, and Colorado.

We rank the other major oil producers in the world below.

Search:
Rank Country 2022 Production
(Thousand B/D) YoY Change Share of
World Supply
1 🇺🇸 U.S. 17,770 +6.5% 18.9%
2 🇸🇦 Saudi Arabia 12,136 +10.8% 12.9%
3 🇷🇺 Russia 11,202 +1.8% 11.9%
4 🇨🇦 Canada 5,576 +3.0% 5.9%
5 🇮🇶 Iraq 4,520 +10.2% 4.8%
6 🇨🇳 China 4,111 +2.9% 4.4%
7 🇦🇪 UAE 4,020 +10.4% 4.3%
8 🇮🇷 Iran 3,822 +4.6% 4.1%
9 🇧🇷 Brazil 3,107 +3.9% 3.3%
10 🇰🇼 Kuwait 3,028 +12.0% 3.2%
11 🇲🇽 Mexico 1,944 +0.9% 2.1%
Total World 93,848 +4.2% 100.0%
Showing 1 to 11 of 55 entriesPreviousNext
Behind America’s considerable lead in oil production, Saudi Arabia
(ranked 2nd) produced 12 million B/D, accounting for about 13% of global supply.

Russia came in third with 11 million B/D in 2022. Together, these top
three oil producing behemoths, along with Canada (4th) and Iraq (5th),
make up more than half of the entire world’s oil supply.

Meanwhile, the top 10 oil producers, including those ranked 6th to 10th—China, UAE, Iran, Brazil, and Kuwait—are responsible for more than
70% of the world’s oil production.

Notably, all top 10 oil giants increased their production between
2021–2022, and as a result, global output rose 4.2% year-on-year.

Major Oil Producing Regions in 2022
The Middle East accounts for one-third of global oil production and
North America makes up almost another one-third of production. The
Commonwealth of Independent States—an organization of post-Soviet Union countries—is another major regional producer of oil, with a 15% share of world production.

Region 2022 Production
(Thousand B/D) YoY Change Share of
World Supply
Middle East 30,743 +9.2% 32.8%
North America 25,290 +5.3% 27.0%
CIS 14,006 +0.9% 14.9%
Africa 7,043 -3.5% 7.5%
Asia Pacific 7,273 -1.4% 7.8%
South & Central
America 6,361 7.2% 6.8%
Europe 3,131 -8.6% 3.3%
What’s starkly apparent in the data however is Europe’s declining share
of oil production, now at 3% of the world’s supply. In the last 20 years
the EU’s oil output has dropped by more than 50% due to a variety of
factors, including stricter environmental regulations and a shift to
natural gas.

Another lens to look at regional production is through OPEC members,
which control about 35% of the world’s oil output and about 70% of the world’s oil reserves.

A pictogram of the regional per day production by the biggest oil
producers in 2022.

When taking into account the group of 10 oil exporting countries OPEC
has relationships with, known as OPEC+, the share of oil production
increases to more than half of the world’s supply.

Oil’s Big Balancing Act
Since it’s the very lifeblood of the modern economy, the countries that control significant amounts of oil production also reap immense
political and economic benefits. Entire regions have been catapulted
into prosperity and wars have been fought over the control of the resource.

At the same time, the ongoing effort to pivot to renewable energy is
pushing many major oil exporters to diversify their economies. A notable example is Saudi Arabia, whose sovereign wealth fund has invested in
companies like Uber and WeWork.

However, the world still needs oil, as it supplies nearly one-third of
global energy demand.

--- SoupGate-Win32 v1.05
* Origin: fsxNet Usenet Gateway (21:1/5)