FPN04-26

Oil Factoids

March 12, 2005

The United States is the second largest oil producing nation, second only to Saudi Arabia. Still, the U. S. has to import about 50% of the oil it needs to meet U. S. demand. The U. S. is the top oil consuming nation, by far, using about 25% of total world oil production.

The top oil producing nations are (all figures in millions of barrels per day):

Saudi Arabia: 9.9
United States: 8.8
Russia: 8.5
Iran: 3.9
Mexico: 3.8
China: 3.4
Norway: 3.3
Canada: 3.1
United Arab Emirates: 2.7
Venezuela: 2.6

The top oil consuming nations are:

United States: 19.8
Japan: 5.3
China: 5.2
Germany: 2.7
Russia: 2.5
Brazil: 2.2
India: 2.2
So. Korea: 2.2
Canada: 2.1
Mexico: 2.0
France: 2.0
United Arab Emirates:  
Source: U. S. Energy Information Administration