5 World's Largest Earth Oil Resulting Countries, America And Russia Have Large Influence

Illustration of petroleum producers (Photo: Doc. Antara)

YOGYAKARTA - In recent times, the condition of the world oil market has been influenced by two major events, namely the COVID-19 pandemic and Russia's invasion of Ukraine. As a result of these two events, world oil prices are holding high. The world's largest petroleum producing countries are also in the spotlight.

The largest petroleum-producing countries have an important role in maintaining oil price stability. The high price of world oil has an impact on the increase in fuel in Indonesia. This condition was also complained by the public.

Geothermal oil is a natural resource naturally reproduced from hydrocarbon deposits and other organic materials. The results of processed petroleum are used for many community needs, such as industrial raw materials, vehicle fuels, furniture manufacturing, to health and beauty product materials.

So which are the largest petroleum-producing countries in the world?

There are many countries that are known to be able to produce petroleum. However, there are only a few countries that are the largest producers of petroleum in the world. Regions that have abundant petroleum content are barren land areas, loose oceans, swamps, and around the coast.

The country that ranks first as the largest petroleum producer is the United States. The US can produce 18.875.00 bpd of petroleum. This production volume has increased by 266,000 barrels per day compared to 2020.

Then which region in the US produces the largest oil? Texas, the US state, is the region that produces the largest oil in the US. Texas is capable of producing oil four times higher than its second-largest oil producing country, New Mexico.

But apart from being the largest oil producer, the US is also a large oil consumer country. Last year, the US recorded a total consumption rate of oil products of 7.22 billion barrels, if calculated on average around 19.78 million barrels per day.

The second largest petroleum producing country is occupied by Saudi Arabia. This country is indeed famous for its nickname oil king. Saudi Arabia's oil production will reach 10,835,000 bpd in 2021.

Saudi Arabia stores 17 percent of the world's oil reserves. The country that has a vast desert is also the largest oil exporter. Saudi Arabia's oil and gas sector accounts for 50 percent of gross domestic product. While the opinion of its exports is around 85.

The third largest oil producing country in the world is Russia. Russia has experienced an increase in oil production in recent years. The country's oil production reaches 10,778,000 barrels per day in 2021.

The region in Russia that stores large amounts of oil is in Western Siberia, between the Ural Mountains and the Central Siberian Plateau, as well as in the Ural-Volga region, extending to the Kaspia Sea.

Russian oil supply was in the spotlight when Russia invaded Ukraine. Russia supplies 10 percent of oil from global production. However, as a result of the war, Canada, the US, Britain, and Australia banned imports of Russian oil.

The next country that is the largest oil producer is Canada. Canada is able to produce oil production reaching 5,558,000 barrels per day in 2021. The oil production figure has increased by 5,235,000 barrels per day from the previous year.

Areas in Canada that have large oil reserves are located in Alberta. A total of 97 percent of the oil reserves are in the form of oil sand. Most of Canada's distribution of the country, namely exporting energy to the US. But Canada has developed or expanded trade relations with emerging markets in Asia.

The next order of the largest petroleum-producing country is China. This Communist-deological country will be able to produce oil reaching 4,993,000 barrels per day by 2021.

Apart from being the largest oil producer, China is also the second largest oil consumer in the world. This is because China is the most populous country in the world, and has a rapidly growing economy.

However, the COVID-19 pandemic in 2020 affected oil production in China. China's crude oil refinery reduced production in the early months of 2020.

Those were some of the largest petroleum-producing countries in the world. Apart from the countries mentioned above. The largest oil producing countries are followed by Iraq, the United Arab Emirates, Brazil, Iran, and Kuwait.

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