The countries in the Middle East are renowned for their vast oil reserves in the global market. While the largest importer of oil and petroleum is the United States, the leading producer of oil in the Middle East is Saudi Arabia with over 12 million barrels of oil produced per day as of 2018.

“Global oil reserves and trade”   Besides Saudi Arabia, the United States imports petroleum from various countries around the world among which Canada is the largest exporter of petroleum having exported around 4.3 billion barrels of petroleum to the United States in 2018. Back in 2015, Kuwait and the United Arab Emirates held the second and third largest oil reserves in the Gulf Cooperation Council.

Oil market of Saudi Arabia   As of 2018, over 10 million barrels of crude oil were produced in Saudi Arabia of which 3 million barrels were consumed, on a daily basis. This crude oil is further refined to produce products such as diesel, fuel oil, gasoline, LPG, kerosene etc. by refineries like Saudi Aramco. Of these, the highest production was of diesel equaling 319 thousand barrels in 2017.

Crude oil production in Trinidad and Tobago has undergone an overall downward trend in recent years, both on land and offshore. In 2021, the Caribbean country's average land-based production amounted to approximately **** thousand barrels per day, down from ** thousand bdp a year earlier. Meanwhile, the average marine production grew to some **** thousand barrels per day.

In 2019, the production volume of crude oil in Tunisia was ****** barrels per day, decreasing compared to the previous year. Indeed, within the period examined, crude oil production in the country declined annually. Tunisia is a small producer of crude oil, especially compared to its neighbor countries Algeria and Libya, which are instead among the main oil-producing nations in Africa.

Key information about Argentina Crude Oil: Production

• Argentina Crude Oil: Production was reported at 700.604 Barrel/Day th in Dec 2024
• This records an increase from the previous number of 635.205 Barrel/Day th for Dec 2023
• Argentina Crude Oil: Production data is updated yearly, averaging 554.156 Barrel/Day th from Dec 1960 to 2024, with 65 observations
• The data reached an all-time high of 846.934 Barrel/Day th in 1998 and a record low of 168.239 Barrel/Day th in 1960
• Argentina Crude Oil: Production data remains active status in CEIC and is reported by Organization of the Petroleum Exporting Countries
• The data is categorized under World Trend Plus’s Association: Energy Sector – Table RB.OPEC.CO: Crude Oil Production: Yearly

United Kingdom Crude Oil Production: Land Oil Field: Scampton data was reported at 0.000 Ton th in 2017. This stayed constant from the previous number of 0.000 Ton th for 2016. United Kingdom Crude Oil Production: Land Oil Field: Scampton data is updated yearly, averaging 0.338 Ton th from Dec 1996 (Median) to 2017, with 22 observations. The data reached an all-time high of 2.135 Ton th in 1997 and a record low of 0.000 Ton th in 2017. United Kingdom Crude Oil Production: Land Oil Field: Scampton data remains active status in CEIC and is reported by Oil & Gas Authority. The data is categorized under Global Database’s United Kingdom – Table UK.RB029: Petroleum: Production: By Land Oil Field.

United Kingdom Crude Oil Production: Land Oil Field: Palmers Wood data was reported at 1.443 Ton th in 2017. This records a decrease from the previous number of 2.772 Ton th for 2016. United Kingdom Crude Oil Production: Land Oil Field: Palmers Wood data is updated yearly, averaging 8.734 Ton th from Dec 1990 (Median) to 2017, with 28 observations. The data reached an all-time high of 57.422 Ton th in 1991 and a record low of 1.443 Ton th in 2017. United Kingdom Crude Oil Production: Land Oil Field: Palmers Wood data remains active status in CEIC and is reported by Oil & Gas Authority. The data is categorized under Global Database’s United Kingdom – Table UK.RB029: Petroleum: Production: By Land Oil Field.

Global palm fruit oil market: In 2015, the countries with the highest levels of production in 2015 were Indonesia, Malaysia, Thailand, together accounting for 86% of total output.

United Kingdom Crude Oil Production: Land Oil Field: Stainton data was reported at 0.061 Ton th in 2017. This records a decrease from the previous number of 0.207 Ton th for 2016. United Kingdom Crude Oil Production: Land Oil Field: Stainton data is updated yearly, averaging 0.707 Ton th from Dec 1987 (Median) to 2017, with 31 observations. The data reached an all-time high of 2.780 Ton th in 1988 and a record low of 0.061 Ton th in 2017. United Kingdom Crude Oil Production: Land Oil Field: Stainton data remains active status in CEIC and is reported by Oil & Gas Authority. The data is categorized under Global Database’s United Kingdom – Table UK.RB029: Petroleum: Production: By Land Oil Field.

United Kingdom Crude Oil Production: Land Oil Field: Stockbridge data was reported at 4.538 Ton th in 2017. This records a decrease from the previous number of 14.927 Ton th for 2016. United Kingdom Crude Oil Production: Land Oil Field: Stockbridge data is updated yearly, averaging 35.827 Ton th from Dec 1990 (Median) to 2017, with 28 observations. The data reached an all-time high of 109.839 Ton th in 1998 and a record low of 4.538 Ton th in 2017. United Kingdom Crude Oil Production: Land Oil Field: Stockbridge data remains active status in CEIC and is reported by Oil & Gas Authority. The data is categorized under Global Database’s United Kingdom – Table UK.RB029: Petroleum: Production: By Land Oil Field.

In 2023, the production index of the oil and gas extraction industry in the United States stood at an estimated ***. This was a considerable increase from 2017, when the oil and gas extraction industry's production index in the North American country was 100.

The value added by the U.S. oil and gas extraction industry amounted to 257.03 billion U.S dollars in 2023. This was a notable decrease from the previous year, but an increase compared to before 2021 which saw a decline in oil product demand due to pandemic-induced lockdowns. Energy supply fears in the wake of the Russia-Ukraine war as well as a return to pre-pandemic level economic activity are partly responsible for the increase in value added noted in 2022. The close connection between 'value added' and crude oil prices The term 'value added' here refers to the difference between the industry's gross output and the cost of production. In the oil and gas industry, the annual value added is majorly influenced by the impact of world market developments on crude oil prices. As these prices underlay market speculation they are especially volatile. For example, the peak in value added recorded in 2022 comes as domestic first purchase prices for crude oil in the U.S. saw a major increase to over 90 U.S. dollars per barrel, benefiting producers in the country. In 2023, the price was nearly 76 U.S. dollars per barrel. Oil and gas industry's contributions to U.S. GDP Producing sectors have historically been a major contributor to the country's gross domestic product. However, as technological advancements have strengthened the service industry, the role of producing sectors declined. In 2023, mining (which includes oil and gas extraction) contributed 380.9 billion U.S. dollars to U.S. coffers. This made it the third smallest contributing just sector ahead of utilities and agriculture.

Roughly ***** million barrels of crude oil were produced by Chevron in Angola as of 2018, a decrease of six percent in comparison to the previous year. In 2017, the American company produced approximately ***** million barrels of oil. Chevron was the second biggest oil company operating in Angola. In fact, international companies accounted for more than ** percent of the oil produced in the country.

This statistic shows the crude oil imports in the European Union (EU) in 2017, by country of origin, in percentage. It shows that the largest share of crude oil was imported from Russia at **** percent of the total. Saudi Arabia made up *** percent of the total crude oil imports.

Proved oil reserves refer to the quantity of oil that is available in a certain area, and has at least a 90 percent chance of being extracted for use. Reserves, along with production and demand, are the three most important factors when oil prices are being set, and certain countries or companies can use their proved reserves to have some control over international prices. Development of the U.S. oil industryToday, the United States is the largest oil producer in the world, but it is outside of the top 10 in terms of its reserves. In the early 1900s, the U.S. overtook the Russian Empire as the world's largest oil producer, as oil booms in Texas and California, as well as heightened demand during the progression of industrialization, saw the industry grow exponentially. Apart from a dip during the Great Depression, the volume of U.S. reserves grew throughout the first half of the 20th century, although the growth of oil industries elsewhere in the world, particularly in the Middle East, saw the OPEC bloc emerge as the most influential force in the global oil pricing. The exploration of major oil fields in Alaska saw U.S. reserves spike in 1970, before both reserves and output fell in the final decades of the 20 th century. The U.S.'s position as the world's largest consumer of oil meant that it has been a net importer since WWII - however, the development of the unconventional oil industry in the 2010s has put the United States on course to become a net exporter in the 2020s.

The statistic shows the crude steel production in the Asia Pacific region in 2017, broken down by country. In that year, Japan's crude steel production amounted to approximately ****** million tons, followed by South Korea with about ***** million tons.

Palm Oil Production: Annual: Smallholder: Bangka Belitung data was reported at 130,702.000 Ton in 2017. This records an increase from the previous number of 119,585.000 Ton for 2016. Palm Oil Production: Annual: Smallholder: Bangka Belitung data is updated yearly, averaging 19,488.000 Ton from Dec 2000 (Median) to 2017, with 18 observations. The data reached an all-time high of 130,702.000 Ton in 2017 and a record low of 9.000 Ton in 2002. Palm Oil Production: Annual: Smallholder: Bangka Belitung data remains active status in CEIC and is reported by Central Bureau of Statistics. The data is categorized under Indonesia Premium Database’s Agriculture Sector – Table ID.RIE016: Palm Oil Production: by Province.

United Kingdom Crude Oil Production: Offshore Field: Grant data was reported at 2.958 Ton th in 2017. This records a decrease from the previous number of 27.343 Ton th for 2016. United Kingdom Crude Oil Production: Offshore Field: Grant data is updated yearly, averaging 77.094 Ton th from Dec 1998 (Median) to 2017, with 20 observations. The data reached an all-time high of 256.963 Ton th in 1999 and a record low of 2.958 Ton th in 2017. United Kingdom Crude Oil Production: Offshore Field: Grant data remains active status in CEIC and is reported by Oil & Gas Authority. The data is categorized under Global Database’s UK – Table UK.RB028: Petroleum: Production: By Offshore Field.

Crude oil imports to Italy from Middle Eastern countries dropped to approximately ** percent of the total imports in 2022 and 2023. This was the minimum value in more than 10 years. Crude oil imports to Italy from the region peaked in 2017, when they accounted for nearly ** percent of the total share. Middle Eastern countries exporting crude oil to Italy included Iraq and Saudi Arabia in 2023.

United Kingdom Crude Oil Production: Offshore Field: Drake data was reported at 0.904 Ton th in 2017. This records a decrease from the previous number of 5.381 Ton th for 2016. United Kingdom Crude Oil Production: Offshore Field: Drake data is updated yearly, averaging 23.911 Ton th from Dec 1997 (Median) to 2017, with 21 observations. The data reached an all-time high of 316.558 Ton th in 1999 and a record low of 0.904 Ton th in 2017. United Kingdom Crude Oil Production: Offshore Field: Drake data remains active status in CEIC and is reported by Oil & Gas Authority. The data is categorized under Global Database’s UK – Table UK.RB028: Petroleum: Production: By Offshore Field.

In the fiscal year 2024, the net worth of ONGC was around *** trillion Indian rupees. India was the third largest consumer of oil globally in 2017. The oil and gas sector was one of the eight core industries in the south Asian country. Furthermore, it played a major role for the development of the economy. In 2018, major consumption of natural gas in the nation came through the fertilizer industry. ONGC was the largest oil and gas exploration and production company in India. With a net worth of nearly *** trillion Indian rupees in financial year 2020, the state-owned enterprise produced about ** percent of the country’s crude oil, and over ** percent of its natural gas. Natural gas in IndiaIn 2019, the production of offshore natural gas by public sector units in India amounted to around ** million metric standard cubic meters per day. The onshore production, however, remained comparatively low. With robust economic growth, foreign direct investments in the Indian oil and petroleum sector were estimated to increase exponentially. Energy sector in IndiaIndia has had a pronounced growth in energy sector investments in recent years. Coal energy, one of the primary sources of electricity within the nation, could presumably face rising challenges from water shortages and the growth of low-cost renewables. Government policies have been adapted to suit and encourage eco-friendly energy principles. In addition, decreased on and offshore prices of renewable resources are likely to weaken the fossil fuel industry even further.