Abstract
Current and past statuses and dynamics of oil production and methods of oil measurements in different countries – under different temperatures and preassures – are considered and analyzed. The author uses methods of comparative and systematic analyses, which are implemented for assessing oil production in the USA, Saudi Arabia and Russia – the world’s leading oil producers – and globally (in the world’s context) in the past, currently and in the foreseeable future (throughout 2050). Crude oil and field (crude + lease NGLs) are considered. Oil developments in the USA, Saudi Arabia and Russia are analyzed separately with their main oil fields being covered. In the past a status of the world’s largest oil producer was taken in rotation by Russia and Saudi Arabia. Before 1992 the world supremacy in oil belonged to Russia but afterwards and until 2014 – mainly to Saudi Arabia. The article mainly concludes that now (since 2014) the USA produce more oil (crude oil + field condensate) than any other country of the world, even without accounting for indigenous biofuel liquids and mostly thanks to the massive tight-oil production.
Highlights
It is widely accepted that the current top oil producers are the USA, Russia and Saudi Arabia, which produced all together in 2019 some two fifths of the world’s field production of oil (Figures 1-3), but there are some nuances
At the end of 2016, according to the Russian statistical agency (Roskomstat), the country once again became the world’s largest oil producer, having outstripped in December Saudi Arabia (10.509 mln b/d compared with 10.424 mln b/d in November vs. 10.474 and 10.623 mln b/d in Saudi Arabia) [5]
It is well known that, in December 2016, 24 oil producers (13 OPEC members and 11 non-member countries) had struck a deal to withdraw from the world oil market since the start of 2017 1.8 mln b/d of their combind oil production to buoy up the declining world oil prices
Summary
It is widely accepted that the current top oil producers are the USA, Russia and Saudi Arabia, which produced all together in 2019 some two fifths of the world’s field production of oil (that is of the global crude oil and lease conden-sate output) (Figures 1-3), but there are some nuances... (see below). It is widely accepted that the current top oil producers are the USA, Russia and Saudi Arabia, which produced all together in 2019 some two fifths of the world’s field production of oil (that is of the global crude oil and lease conden-sate output) (Figures 1-3), but there are some nuances... The United States produced 19.51 million barrels of oil (and other petroleum liquids) per day, besting both Saudi Arabia and Russia, and controlling 19% of the world’s oil supplies (Figure 3). The highly reliable statistics of BP (with actual annual data for 2020 being expected only in June-July 2021) tell that the USA, Russia and Saudi Arabia produced in 2019 746.7, 568.1 and 556.6 mln tonnes of crude oil and other oil liquids (NGL) correspondingly (or nearly 42% as a total) (Figure 4) Annual Crude Oil and Field NGLs Production in the USA, Russia and Saudi Arabia in 1985-2019, in mln tonnes
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