Middle East oil production by country 2018
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.
“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.
