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20 countries seeing biggest increase in oil production
Oil-rich countries are increasing production to keep up with increasing demand around the world, especially in the emerging economies.
Let's take a look at some nations that are witnessing biggest gain in production.
Source: Bloomberg Visual Data
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20 countries seeing biggest increase in oil production
China
Change in share of world oil production (1973-2012): 3.51 per cent
Share of world oil production in 1973: 1.96 per cent
Share of world oil production in 2012: 5.46 per cent
Average crude oil production in 1973: 1.09 million barrels per day
Average crude oil production in 2012: 4.12 million barrels per day
Overall rank in oil production rise in 2012: 1
China, the fastest growing economy in the world, saw biggest jump in oil production.
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20 countries seeing biggest increase in oil production
Mexico
Change in share of world oil production (1973-2012): 2.59 per cent
Share of world oil production in 1973: 0.84 per cent
Share of world oil production in 2012: 3.43 per cent
Average crude oil production in 1973: 4,65,000 barrels per day
Average crude oil production in 2012: 2.58 million barrels per day
Overall rank in oil production rise in 2012: 2
Mexico, which has close trade ties with energy-hungry United States, saw its share rise to more than 3 per cent.
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20 countries seeing biggest increase in oil production
Angola
Change in share of world oil production (1973-2012): 2.11 per cent
Share of world oil production in 1973: 0.29 per cent
Share of world oil production in 2012: 2.40 per cent
Average crude oil production in 1973: 162,000 barrels per day
Average crude oil production in 2012: 1.81 million barrels per day
Overall rank in oil production rise in 2012: 3
Angola, one of the biggest oil producers in Africa, is pumping out more than 1 million barrels of oil per day.
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20 countries seeing biggest increase in oil production
Norway
Change in share of world oil production (1973-2012): 2.07 per cent
Share of world oil production in 1973: 0.06 per cent
Share of world oil production in 2012: 2.13 per cent
Average crude oil production in 1973: 32,000 barrels per day
Average crude oil production in 2012: 1.60 million barrels per day
Overall rank in oil production rise in 2012: 4
Norway, which has the biggest sovereign wealth fund in the world, saw its share jump to more than 2 per cent.
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20 countries seeing biggest increase in oil production
United Kingdom
Change in share of world oil production (1973-2012): 1.16 per cent
Share of world oil production in 1973: 0.00 per cent
Share of world oil production in 2012: 1.17 per cent
Average crude oil production in 1973: 2,000 barrels per day
Average crude oil production in 2012: 881,000 million barrels per day
Overall rank in oil production rise in 2012: 5
United Kingdom, one of the biggest financial centres in the world, was producing just 2,000 barrels per day in 1973.
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20 countries seeing biggest increase in oil production
United Arab Emirates
Change in share of world oil production (1973-2012): 0.96 per cent
Share of world oil production in 1973: 2.75 per cent
Share of world oil production in 2012: 3.71 per cent
Average crude oil production in 1973: 1.53 million barrels per day
Average crude oil production in 2012: 2.80 million barrels per day
Overall rank in oil production rise in 2012: 6
United Arab Emirates, which has one of the biggest reserves of oil and gas in the world, has nearly 4 per cent share of oil production.
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20 countries seeing biggest increase in oil production
Canada
Change in share of world oil production (1973-2012): 0.90 per cent
Share of world oil production in 1973: 3.23 per cent
Share of world oil production in 2012: 4.13 per cent
Average crude oil production in 1973: 1.79 million barrels per day
Average crude oil production in 2012: 3.11 million barrels per day
Overall rank in oil production rise in 2012: 7
Canada, one of the most advanced countries in the world, has more than 4 per cent share of oil production.
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20 countries seeing biggest increase in oil production
Qatar
Change in share of world oil production (1973-2012): 0.59 per cent
Share of world oil production in 1973: 1.02 per cent
Share of world oil production in 2012: 1.61 per cent
Average crude oil production in 1973: 570,000 barrels per day
Average crude oil production in 2012: 1.21 million barrels per day
Overall rank in oil production rise in 2012: 8
Qatar, one of the richest countries in the world, produces more than a million barrels of oil per day.
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20 countries seeing biggest increase in oil production
Egypt
Change in share of world oil production (1973-2012): 0.44 per cent
Share of world oil production in 1973: 0.30 per cent
Share of world oil production in 2012: 0.74 per cent
Average crude oil production in 1973: 165,000 barrels per day
Average crude oil production in 2012: 556,000 barrels per day
Overall rank in oil production rise in 2012: 9
Egypt, which is going through internal turmoil, produces more than half-a-million barrels of oil per day.
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20 countries seeing biggest increase in oil production
Iraq
Change in share of world oil production (1973-2012): 0.32 per cent
Share of world oil production in 1973: 3.62 per cent
Share of world oil production in 2012: 3.95 per cent
Average crude oil production in 1973: 2.01 million barrels per day
Average crude oil production in 2012: 2.98 million barrels per day
Overall rank in oil production rise in 2012: 10
Iraq, which is going through internal turmoil, produces more than 2 million barrels of oil per day.
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20 countries seeing biggest increase in oil production
Equador
Change in share of world oil production (1973-2012): 0.29 per cent
Share of world oil production in 1973: 0.37 per cent
Share of world oil production in 2012: 0.67 per cent
Average crude oil production in 1973: 209,000 barrels per day
Average crude oil production in 2012: 504,000 barrels per day
Overall rank in oil production rise in 2012: 11
Equador, which is located in South America, produces more than 500,000 barrels of oil per day.
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20 countries seeing biggest increase in oil production
Algeria
Change in share of world oil production (1973-2012): 0.06 per cent
Share of world oil production in 1973: 1.97 per cent
Share of world oil production in 2012: 2.03 per cent
Average crude oil production in 1973: 1.09 million barrels per day
Average crude oil production in 2012: 1.53 million barrels per day
Overall rank in oil production rise in 2012: 12
Algeria, which is going through internal turmoil, produces more than a million barrels of oil per day.
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20 countries seeing biggest increase in oil production
Nigeria
Change in share of world oil production (1973-2012): Minus 0.35 per cent
Share of world oil production in 1973: 3.69 per cent
Share of world oil production in 2012: 3.34 per cent
Average crude oil production in 1973: 2.05 million barrels per day
Average crude oil production in 2012: 2.52 million barrels per day
Overall rank in oil production rise in 2012: 13
Nigeria, one of the biggest economies in Africa, produces more than 2 million barrels of oil per day.
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20 countries seeing biggest increase in oil production
Saudi Arabia
Change in share of world oil production (1973-2012): Minus 0.63 per cent
Share of world oil production in 1973: 13.64 per cent
Share of world oil production in 2012: 13.01 per cent
Average crude oil production in 1973: 7.59 million barrels per day
Average crude oil production in 2012: 9.83 million barrels per day
Overall rank in oil production rise in 2012: 14
Saudi Arabia, which has one of the highest reserves of oil and gas, produces nearly 10 million barrels of oil per day.
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20 countries seeing biggest increase in oil production
Russia
Change in share of world oil production (1973-2012): Minus 1.82 per cent
Share of world oil production in 1973: 14.95 per cent
Share of world oil production in 2012: 13.13 per cent
Average crude oil production in 1973: 8.32 million barrels per day
Average crude oil production in 2012: 9.92 million barrels per day
Overall rank in oil production rise in 2012: 15
Russia, which has one of the highest reserves of oil and gas, produces nearly 10 million barrels of oil per day.
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20 countries seeing biggest increase in oil production
Kuwait
Change in share of world oil production (1973-2012): Minus 1.94 per cent
Share of world oil production in 1973: 5.42 per cent
Share of world oil production in 2012: 3.49 per cent
Average crude oil production in 1973: 3.02 million barrels per day
Average crude oil production in 2012: 2.63 million barrels per day
Overall rank in oil production rise in 2012: 16
Kuwait, which has one of the highest reserves of oil and gas, produces nearly 3 million barrels of oil per day.
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20 countries seeing biggest increase in oil production
Libya
Change in share of world oil production (1973-2012): Minus 2.10 per cent
Share of world oil production in 1973: 3.91 per cent
Share of world oil production in 2012: 1.81 per cent
Average crude oil production in 1973: 2.17 million barrels per day
Average crude oil production in 2012: 1.36 million barrels per day
Overall rank in oil production rise in 2012: 17
Libya, which is going through internal turmoil, produces more than a million barrels of oil per day.
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20 countries seeing biggest increase in oil production
Venezuela
Change in share of world oil production (1973-2012): Minus 3.00 per cent
Share of world oil production in 1973: 6.05 per cent
Share of world oil production in 2012: 3.04 per cent
Average crude oil production in 1973: 3.36 million barrels per day
Average crude oil production in 2012: 2.30 million barrels per day
Overall rank in oil production rise in 2012: 18
Venezuela, which has one of the biggest oil reserves in the region, produces more than 2 million barrels of oil per day.
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20 countries seeing biggest increase in oil production
Iran
Change in share of world oil production (1973-2012): Minus 6.07 per cent
Share of world oil production in 1973: 10.53 per cent
Share of world oil production in 2012: 4.46 per cent
Average crude oil production in 1973: 5.86 million barrels per day
Average crude oil production in 2012: 3.36 million barrels per day
Overall rank in oil production rise in 2012: 19
Iran, which has one of the biggest oil reserves in the region, produces more than 3 million barrels of oil per day.
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20 countries seeing biggest increase in oil production
United States
Change in share of world oil production (1973-2012): Minus 7.97 per cent
Share of world oil production in 1973: 16.54 per cent
Share of world oil production in 2012: 8.57 per cent
Average crude oil production in 1973: 9.20 million barrels per day
Average crude oil production in 2012: 6.47 million barrels per day
Overall rank in oil production rise in 2012: 20
United States, the biggest economy in the world, produces more than 6 million barrels of oil per day.