Oil has been and still is the key ingredient for meeting all the power and energy needs of the entire globe. Even today, one cannot imagine a commercial expansion without oil. As an integral part of our lives, oil has always been a commodity with versatile uses, making it a necessity for us. It is intricately linked to our lives.
New technologies have helped a great deal in drilling down to greater depths. Many countries produce oil but its consumption is quite uneven. Even then, there has been a substantial growth in its consumption overall. Here is a list of the biggest oil producing countries in the world.
Saudi Arabia produces a whopping 13.28% of world’s share of oil. Russia too produces a handsome 12.65%. United States produces around 10.74% of the world’s share of oil. Iran comes in at 4.77% of world’s share. China produces 4.56% of the world’s oil share. Canada produces 3.90% of the world’s share.
Iraq walks in next with 3.75%. United Arab Emirates stands close with 3.32% of world’s oil share. Mexico and Kuwait produce 3.56% and 2.96%, respectively, of the world’s share. Brazil produces 3.05% and Nigeria produces 2.63%. Venezuela, Norway and Algeria’s oil produce is 2.93%, 2.79% and 2.52%, respectively, of the world share.