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A third of the countries on the planet have proven oil reserves suitable for production and processing on an industrial scale, but not all trade raw materials on foreign market. Only a dozen and a half countries play a decisive role in this area of the world economy. The leading players in the oil market are the largest consumer economies and a few producing countries.
Oil-producing powers collectively extract more than one billion barrels of raw materials every year. For decades, the generally accepted standard unit of measurement for liquid hydrocarbons has been the American barrel, which is equal to 159 liters. Total global reserves, according to various expert estimates, range from 240 to 290 billion tons.
Supplier countries are divided into several groups by experts:
- OPEC member states;
- countries North Sea;
- North American manufacturers;
- other large exporters.
The largest segment of world trade is occupied by OPEC. The territory of the twelve member states of the cartel contains 76% of the explored volumes of this non-renewable resource. Members of the international organization extract 45% of the world's light oil from the depths every day. Analysts from the IEA, the International Energy Agency, believe that in the coming years, dependence on OPEC countries will only grow due to a decrease in reserves from independent exporters. Middle Eastern countries supply oil to buyers in the Asia-Pacific region, North America and Western Europe. https://www.site/
At the same time, both suppliers and buyers are striving to diversify the logistics component of trade transactions. The volumes of offers from traditional producers are approaching their upper limit, so some large buyers, primarily China, are increasingly turning their attention to the so-called rogue countries: for example, Sudan and Gabon. Ignored by China international standards does not always meet with understanding in the international community, however, it is largely justified to ensure economic security.
Rating of leading oil exporters
The absolute leaders in oil exports are the record holders for extracting raw materials from the subsoil: Saudi Arabia and Russian Federation. Over the last decade, the list of the largest oil sellers is as follows:
- Saudi Arabia consistently ranks top with the most extensive proven reserves and daily exports of 8.86 million barrels, that's almost 1.4 million tons. The country has about 80 extensive fields, the largest consumers are Japan and the United States.
- Russia supplies 7.6 million barrels. per day. The country has proven reserves of black gold of more than 6.6 billion tons, which is 5% of the world's reserves. The main buyers are neighboring countries and the EU. Considering the development of promising deposits on Sakhalin, an increase in exports to Far Eastern buyers is expected.
- UAE exports 2.6 million barrels. The Middle Eastern state has 10% of oil reserves; the main trading partners are the Asia-Pacific countries.
- Kuwait– 2.5 million barrels The small state has a tenth of the world's reserves. At the current rate of production, the resources will last for at least a century.
- Iraq– 2.2 - 2.4 million barrels It is in second place in terms of available reserves of raw materials, with explored deposits of more than 15 billion tons. Experts say that there is twice as much oil in the ground.
- Nigeria- 2.3 million barrels The African state has consistently occupied sixth position for many years. Explored reserves account for 35% of the total volume of discovered deposits on the dark continent. A favorable geographical location allows you to transport raw materials both in North America, and to the countries of the Far Eastern region.
- Qatar– 1.8 - 2 million barrels Export earnings per capita are the highest, making it the richest country in the world. The volume of proven reserves exceeds 3 billion tons.
- Iran- more than 1.7 million barrels The volume of reserves is 12 billion tons, which is 9% of the planet’s wealth. About 4 million barrels are extracted daily in the country. After the sanctions are lifted, supplies to the foreign market will increase. Despite the decline in prices, Iran intends to export at least 2 million barrels. The main buyers are China, South Korea and Japan. offbank.ru
- Venezuela- 1.72 million barrels The largest trading partner is the USA.
- Norway- more than 1.6 million barrels The Scandinavian country has the most extensive reserves among the EU countries - one and a half billion tons.
- Large exporters, whose daily sales exceed 1 million barrels per day, are Mexico, Kazakhstan, Libya, Algeria, Canada, and Angola. Less than a million per day is exported by Britain, Colombia, Azerbaijan, Brazil, and Sudan. In total, more than three dozen states are among the sellers.
Rating of the largest oil buyers
The list of the largest buyers of crude oil has remained stable over the years. However, due to the intensification of shale oil production in the United States and the growth of the Chinese economy, the leader may change in the coming years. The daily purchase volumes are as follows:
- USA 7.2 million barrels are purchased daily. A third of imported oil is of Arab origin. Imports are gradually decreasing due to the reactivation of its own deposits. At the end of 2015, in certain periods, net imports decreased to 5.9 million barrels. in a day.
- China imports 5.6 million barrels. In terms of GDP, it is the largest economy in the world. In an effort to ensure stability of supplies, state-owned companies are investing huge amounts of money in the oil production industries in Iraq, Sudan and Angola. Geographical neighbor Russia also expects to increase its share of supplies to the Chinese market.
- Japan. The Japanese economy needs 4.5 million barrels daily. oil. The dependence of the local oil refining industry on external purchases is 97%, and in the near future it will be 100%. The main supplier is Saudi Arabia.
- India imports 2.5 million barrels per day. The economy's dependence on imports is 75%. Experts predict that in the next decade, purchases on the foreign market will increase by 3–5% per year. In terms of purchases of “black gold” in the near future, India may get ahead of Japan.
- South Korea– 2.3 million barrels The main suppliers are Saudi Arabia and Iran. In 2015, purchases were made in Mexico for the first time.
- Germany– 2.3 million barrels
- France– 1.7 million barrels
- Spain– 1.3 million barrels
- Singapore– 1.22 million barrels
- Italy– 1.21 million barrels
- More than half a million barrels per day are purchased by Holland, Turkey, Indonesia, Thailand and Taiwan. //www.site/
According to IEA estimates, in 2016 the demand for liquid hydrocarbons will increase by 1.5%. Next year growth will be 1.7%. In the long term, demand will also grow steadily and not only due to an increase in the number Vehicle using internal combustion engines. Modern technologies require more and more synthetic materials derived from petroleum.
This is stated in a BP press release dedicated to the publication of the company's annual statistical review. Last year, 540.7 million tons of oil and condensate were produced in Russia. 254.7 million tons of crude oil and 150.1 million tons of petroleum products were exported, a company representative explained. In total, this figure is higher than that of Saudi Arabia, he added. Data on exports of oil and petroleum products from Saudi Arabia are not disclosed in the report. The BP representative did not do this either. But the report says that oil production in the country rose to a record 568.5 million tons, while domestic consumption amounted to 168.1 million tons. The difference, it turns out, was 400.4 million tons.
Exports from Russia increased due to increased production of liquid hydrocarbons with a decrease in refining volumes, explains Vygon Consulting consultant Daria Kozlova. Production was influenced by tax incentive measures for new fields in a number of regions and favorable price conditions, notes the director of the Moscow oil and gas center EY Denis Borisov. According to him, 2015 was the first year in more than 10 years when processing in Russia declined. First of all, this is due to a decrease in customs subsidies due to the fall in oil prices, Kozlova continues. It is more profitable for companies to export crude oil than to refine it. At the same time, the main export oil product in Russia is fuel oil, which costs less than crude oil, Borisov clarifies.
The Ministry of Energy explains the growth in exports by the same factors. Domestic oil consumption in Russia decreased by 5.2% due to the economic downturn, BP believes.
The largest increase in imports in the world last year was provided by Europe (bought 488.1 million tons of oil and 184 million tons of petroleum products) and China (335.8 million and 69.5 million tons). Russia remains the leading supplier of oil and gas to Europe, providing 37 and 35% of European consumption, according to BP. Europe received 158.5 million tons of oil and 88.9 million tons of petroleum products last year, China – 42.4 million and 3.8 million tons. Focus on Asia is the main trend for Russian exporters in the last few years, the share of supplies to the East is growing, says Aton senior analyst Alexander Kornilov. He calls Rosneft the pioneer here - it has long-term contracts with CNPC.
But this year Rosneft plans to increase oil supplies to European consumers via the Druzhba pipeline by 3–5% to approximately 28.7–29 million tons, a company representative said. “At the same time, the company is actively working with partners from the Asia-Pacific region: at the end of 2015, the volume of oil supplies in this direction increased by 18.5% compared to 2014 to 39.7 million tons,” he adds. Gazprom Neft exported 9.58 million tons of oil to non-CIS countries and 2.46 million tons to the CIS last year, a company representative said. Representatives of Lukoil and Surgutneftegaz did not answer calls from Vedomosti, and a representative of Bashneft was unavailable to journalists.
The total actual net oil import requirement for all EU countries (28) was 3.82 billion barrels (10.5 million barrels per day) in 2015. The energy deficit in oil and petroleum products is estimated at 86%. 100% is when absolutely all oil and petroleum products are imported.
Oil dependence is at historical highs.
Oil imports in 2015 compared to 2014 increased by 4.7% for all countries and by 5.9% for the top 10 importers, however, even 2 years of growth in oil imports (since 2013) does not compensate for the trend of decreasing imports since 2005. 
In 2015, oil imports are 9-10% lower than peak levels in 2005-2006. The EU is a stagnating market for energy resources. Demand there is not growing for three reasons: the economic recession since 2007, increased energy efficiency, and the development of alternative energy sources. Over the next 10 years, oil imports into the EU28 will decline by at least a further 10% in physical terms, mainly due to increased energy efficiency and trends towards alternative energy sources.
According to my calculations based on data and sources from the Euro Commission (EC), Russia in 2015 provided 30% of total oil supplies or about 3.1 million barrels. in a day. Superiority over the closest competitor (Norway) by 2.5 times. Average daily oil supplies of over 500 thousand barrels per day are provided by only 7 countries - Russia, Norway, Nigeria, Saudi Arabia, Iraq, Kazakhstan, Azerbaijan. All Middle Eastern countries provide only 1.8 million barrels. per day or slightly less than 18% of total supplies. But entering the Iranian market in 2016 could provide at least 600 thousand barrels - this is exactly how much was supplied to the EU (28) before the Iran embargo. All African countries are about 2.6 million barrels. 
The table shows from which country and where oil was flowing in 2015 in million barrels per year according to my compilation oil flows. It's about exclusively about external oil supplies without subsequent distribution within the EU, which is why there are fewer than 28 countries in the table, because not everyone supports foreign trade energy ties.
This is in general terms. And what the EU means by diversification of energy supplies (from where, where and how) is a separate conversation.
Global proven oil reserves (as of 2015) amount to 1657.4 billion barrels. The largest oil reserves - 18.0% of all world reserves - are located in Venezuela. Proven oil reserves in this country amount to 298.4 billion barrels. Saudi Arabia is the second largest country in the world with oil reserves. The volume of its proven reserves is about 268.3 billion barrels of oil (16.2% of the world's total). Proven oil reserves in Russia account for approximately 4.8% of the world's reserves - about 80.0 billion barrels, in the USA - 36.52 billion barrels (2.2% of the world's total).
Oil reserves in countries of the world (as of 2015), barrels
Oil production and consumption by country
The world leader in oil production is Russia - 10.11 million barrels per day, Saudi Arabia is in second place - 9.735 million barrels per day. The world leader in oil consumption is the United States - 19.0 million barrels per day, China is in second place - 10.12 million barrels per day.
Oil production by country (as of 2015), barrels/day
data http://www.globalfirepower.com/
Oil consumption by countries of the world (as of 2015), barrels/day
data http://www.globalfirepower.com/
Experts from the International Energy Agency (IEA) expect global oil demand to increase by 1.4 million barrels per day in 2016 to 96.1 million barrels per day. In 2017, global demand is forecast to reach 97.4 million barrels per day.
World oil exports and imports
The leaders in oil imports are currently the United States - 7.4 million barrels per day and China - about 6.7 million barrels per day. The leaders in exports are Saudi Arabia - 7.2 million barrels per day and Russia - 4.9 million barrels per day.
Export volume by country in 2015
| place | a country | export volume, barrels/day | change,% compared to 2014 |
| 1 | Saudi Arabia | 7163,3 | 1,1 |
| 2 | Russia | 4897,5 | 9,1 |
| 3 | Iraq | 3004,9 | 19,5 |
| 4 | UAE | 2441,5 | -2,2 |
| 5 | Canada | 2296,7 | 0,9 |
| 6 | Nigeria | 2114,0 | -0,3 |
| 7 | Venezuela | 1974,0 | 0,5 |
| 8 | Kuwait | 1963,8 | -1,6 |
| 9 | Angola | 1710,9 | 6,4 |
| 10 | Mexico | 1247,1 | 2,2 |
| 11 | Norway | 1234,7 | 2,6 |
| 12 | Iran | 1081,1 | -2,5 |
| 13 | Oman | 788,0 | -2,0 |
| 14 | Colombia | 736,1 | 2,0 |
| 15 | Algeria | 642,2 | 3,1 |
| 16 | Great Britain | 594,7 | 4,2 |
| 17 | USA | 458,0 | 30,5 |
| 18 | Ecuador | 432,9 | 2,5 |
| 19 | Malaysia | 365,5 | 31,3 |
| 20 | Indonesia | 315,1 | 23,1 |
OPEC data
Import volume by country in 2015
| place | a country | import volume, barrels/day | change, % compared to 2014 |
| 1 | USA | 7351,0 | 0,1 |
| 2 | China | 6730,9 | 9,0 |
| 3 | India | 3935,5 | 3,8 |
| 4 | Japan | 3375,3 | -2,0 |
| 5 | South Korea | 2781,1 | 12,3 |
| 6 | Germany | 1846,5 | 2,2 |
| 7 | Spain | 1306,0 | 9,6 |
| 8 | Italy | 1261,6 | 16,2 |
| 9 | Fraction | 1145,8 | 6,4 |
| 10 | Netherlands | 1056,5 | 10,4 |
| 11 | Thailand | 874,0 | 8,5 |
| 12 | Great Britain | 856,2 | -8,9 |
| 13 | Singapore | 804,8 | 2,6 |
| 14 | Belgium | 647,9 | -0,3 |
| 15 | Canada | 578,3 | 2,6 |
| 16 | Türkiye | 505,9 | 43,3 |
| 17 | Greece | 445,7 | 6,0 |
| 18 | Sweden | 406,2 | 7,5 |
| 19 | Indonesia | 374,4 | -2,3 |
| 20 | Australia | 317,6 | -28,0 |
OPEC data
How many years will oil reserves last?
Oil is a non-renewable resource. Proven oil reserves (as of 2015) are approximately 224 billion tons (1657.4 billion barrels), estimated - 40-200 billion tons (300-1500 billion barrels).
By the beginning of 1973, the world's proven oil reserves were estimated at 77 billion tons (570 billion barrels). Thus, proven reserves have been growing in the past (oil consumption is also growing - over the past 40 years it has grown from 20.0 to 32.4 billion barrels per year). However, since 1984, the annual volume of world oil production has exceeded the volume of explored oil reserves.
World oil production in 2015 was about 4.4 billion tons per year, or 32.7 billion barrels per year. Thus, at the current rate of consumption, proven oil reserves will last for about 50 years, and estimated reserves will last for another 10-50 years.
US oil market
As of 2015, the US imported approximately 39% of its total oil consumption and produced 61% independently. The main countries exporting oil to the US are Saudi Arabia, Venezuela, Mexico, Nigeria, Iraq, Norway, Angola and the UK. Approximately 30% of oil imported into the United States and 15% of total oil consumption in the United States is oil of Arab origin.
According to experts, strategic oil reserves in the United States currently amount to more than 695 million barrels, and commercial oil reserves are about 520 million barrels. For comparison, Japan's strategic oil reserves are about 300 million barrels, and Germany's are about 200 million barrels.
US oil production from unconventional sources increased approximately fivefold between 2008 and 2012, reaching almost 2.0 million barrels per day by the end of 2012. By the beginning of 2016, the 7 largest shale oil basins were already producing about 5.0 million barrels daily. The average share of shale oil, or light tight oil as it is often called, in total oil production in 2016 was 36% (compared to 16% in 2012).
Conventional crude oil production in the United States (including condensate) amounted to 8.6 million barrels per day in 2015, which is 1.0 million barrels per day less than in 2012. The total volume of oil production in the United States, including shale, in 2015 amounted to more than 13.5 million barrels per day. Much of the increase in recent years has been driven by increased oil production in North Dakota, Texas and New Mexico, where hydraulic fracturing (fracking) and horizontal drilling technologies have been used to produce oil from shale formations.
In percentage terms (up 16.2% from the previous year), 2014 was the best year in more than six decades. Annual increases in oil production regularly exceeded 15% in the first half of the 20th century, but these changes were smaller in absolute terms because production levels were significantly lower than they are now. US oil production rose in each of the previous six years. This trend followed the period from 1985 to 2008, in which oil production fell in every year (except for one year). US oil production growth stalled in 2015 due to a sharp drop in oil prices in the second half of 2014.
According to the latest IEA estimates, conventional oil production in the United States in 2016 will be 8.61 million barrels per day, in 2017 - 8.2 million barrels per day. US oil demand in 2016 will average 19.6 million barrels per day. The average oil price forecast for 2016 was raised to $43.57 per barrel, for 2017 - to $52.15 per barrel.
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