Where Does Our Oil Come From?

Global production of crude oil closely matches global demand, making prices sensitive to disruptions in supply and fluctuations in consumption. Global oil production was 85.1 million barrels a day in 2009, according to the International Energy Agency, the latest year for which information is available. Global oil demand was 84 million barrels a day.

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The U.S. is the world's third-biggest producer, yet we supplied only about 39 percent of our needs in 2009. We imported the rest. (see below.) Source: International Energy Agency.

Top Oil Producers

	Million Barrels
	A Day	Percent
1. Russia	10.21	12
2. Saudi Arabia	7.92	9.3
3. U.S.	7.44	8.7
4. China	3.87	4.6
5. Iran	3.74	4.4
6. Canada	3.22	3.8
7. Mexico	2.97	3.5
8. Arab Emirates	2.27	2.7
9. Venezuela	2.15	2.5
10. Kuwait	2.01	4

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Global Demand was 84 million barrels a day in 2009. The U.S. consumes 23 percent of all the world's crude oil. China, the second-biggest consumer, uses only 9 percent! Source: International Energy Agency.

Top Oil Consumers

	Million Barrels
	A Day	Percent
1. U.S.	19.07	22.7
2. China	7.75	9.2
3. Japan	4.37	5.2
4. Russia	4.23	5
5. India	3.09	3.7
6. Brazil	2.53	3
7. Germany	2.44	2.9
8. Saudi Arabia	2.27	2.7
9. S. Korea	2.18	2.6
10. Canada	2.15	2.6

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The U.S. imported an average 9.21 million barrels a day of oil in 2010, according to the U.S. Energy Department. Canada is the biggest supplier of crude oil to the U.S. Here are the top 10 suppliers.

Top Oil Suppliers to the U.S.

	Million Barrels
	A Day
1. Canada	1.97
2. Mexico	1.15
3. Saudi Arabia	1.08
4. Nigeria	0.98
5. Venezuela	0.91
6. Iraq	0.42
7. Angola	0.38
8. Colombia	0.34
9. Algeria	0.33
10. Russia	0.27

 

Comments

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