Global Oil Production Stats

Interesting table from our friends at The Oil Drum. Only 14 of the 54 oil producing nations in the world are still increasing their oil production. Considering 2008 saw a global all-time-high in exploration and production expense, could provide some food for thought in terms of geopolitical risk changes (see which countries are depleting more rapidly) and where the new areas of resources could be coming from. To be considered past-peak, a producer’s current (2008) production has to be at least 10% less than its best year, and the best year must have occurred prior to 2005.

  • CountryPeak Prod.2008 Prod.% Off PeakPeak Year
  1. United States112977337-35%1970
  2. Venezuela37542566-32%1970
  3. Libya33571846-45%1970
  4. Other Middle East7933-58%1970
  5. Kuwait33392784 -17%1972
  6. Iran60604325-29%1974
  7. Indonesia16851004-41%1977
  8. Romania31399-68%1977
  9. Trinidad & Tobago230149-35%1978
  10. Iraq34892423-31%1979
  11. Brunei261175-33%1979
  12. Tunisia11889-25%1980
  13. Peru196120-39%1982
  14. Cameroon18184-54%1985
  15. Other Eur/Eurasia762427-44%1986
  16. Russian Federation114849886-14%1987
  17. Egypt941722-23%1993
  18. Other Asia Pacific276237-14%1993
  19. India774766-1%1995
  20. Syria596398-33%1995
  21. Gabon365235-36%1996
  22. Argentina890682-23%1998
  23. Colombia838618-26%1999
  24. United Kingdom29091544-47%1999
  25. Rep. of Congo 266249-6%1999
  26. Uzbekistan191111-42%1999
  27. Australia809556-31%2000
  28. Norway34182455-28%2001
  29. Oman961728-24%2001
  30. Yemen457305-33%2002
  31. Other S. America153138-10%2003
  32. Mexico38243157-17%2004
  33. Malaysia793754-5%2004
  34. Vietnam427317-26%2004
  35. Denmark390287-26%2004
  36. Other Africa7554-28%2004
  37. Nigeria25802170-16%2005
  38. Chad173127-27%2005
  39. Italy127108-15%2005
  40. Ecuador545514-6%2006
  41. Saudi Arabia1111410846-2%2005 / Growing?
  42. Canada33203238-2%2007 / Growing
  43. Algeria20161993-1%2007 / Growing
  44. Equatorial Guinea368361-2%2007 / Growing
  45. China37953795-Growing?
  46. United Arab Em.29802980-Growing
  47. Brazil18991899-Growing
  48. Angola18751875-Growing
  49. Kazakhstan15541554-Growing
  50. Qatar13781378-Growing
  51. Azerbaijan914914-Growing
  52. Sudan480480-Growing
  53. Thailand325325-Growing
  54. Turkmenistan205205-Growing
  • Peaked / Flat Countries Total-49597-60.6% of world oil production
  • Growing Countries Total-32223-39.4% of world oil production

About Daniel Lacalle

Daniel Lacalle (Madrid, 1967). PhD Economist and Fund Manager. Author of bestsellers "Life In The Financial Markets" and "The Energy World Is Flat" as well as "Escape From the Central Bank Trap". Daniel Lacalle (Madrid, 1967). PhD Economist and Fund Manager. Frequent collaborator with CNBC, Bloomberg, CNN, Hedgeye, Epoch Times, Mises Institute, BBN Times, Wall Street Journal, El Español, A3 Media and 13TV. Holds the CIIA (Certified International Investment Analyst) and masters in Economic Investigation and IESE.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.