1. Saudi Arabia
The world's largest oil producer and exporter Saudi Arabia contributes
20,687 thousand barrels of oil per day to the world's oil basket.
Being the largest producer it exports about 8,525 thousand barrels per
day.
The nation is also the world's 10th largest consumer of oil with
consuming about 2,139 thousand barrels per day.
2. Russia
With 9,677 thousand barrels of oil produced per day the world's 2nd
largest producer Russia is also the world's 4th biggest consumer of
oil consuming about 2,811 thousand barrels of oil per day.
It rakes in huge money by exporting 6,866 thousand barrels of oil per
day as the world's 2nd largest net exporter.
3.United States
The US producing about 8,330 thousand barrels of oil per day is
world's top oil consumer and importer with the consumption of 20,687
thousand barrels of oil per day and imports accounting around 12,357
thousand barrels of oil per day.
4. Iran
Iran produces 4,148 thousand barrels of oil per day as the world's 4th
largest oil producer, exporting 2,462 thousand barrels of oil per
day.
5. China
One of the world's most populated nation China also accounts among the
world's largest oil producers. Ranking 5th in the league of world's
highest oil producers it produces 3,845 thousand barrels of oil per
day, consuming about 7,201 thousand barrels per day. The nation is
also the world's 2nd largest oil consumer.
To fulfill its requirement it imports about 3,356 thousand barrels of
oil per day becoming the world's 3rd largest net importer.
6. Mexico
The world's 6th largest oil producer, Mexico produces 3,707 thousand
barrels of oil per day. It is the 10th largest net exporter of oil in
the world exporting about 1,710 thousand barrels per day.
7. Canada
Canada produces about 3,288 thousand barrels of oil per day. It is
also the 7th largest oil consumer of the world consuming about 2,264
thousand barrels of oil.
8. United Arab Emirates
Accounting for 2,945 thousand barrels of oil produced per day, UAE
exports about 2,564 thousand barrels per day which makes it the
world's 3rd largest net exporter.
9. Venezuela
Producing around 2,803 thousand barrels per day it is also the world's
7th largest net exporter, exporting about 2,183 thousand barrels of
oil per day.
10. Norway
Norway being the 10th largest oil producing nation of the world
produces around 2,786 thousand barrels per day.
N.Sukumar
Research Analyst
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