major oil exporters. Reserves, production and consumption of oil by countries of the world. How many years will oil reserves last

The world's proven oil reserves (as of 2015) amount to 1,657.4 billion barrels. The largest oil reserves - 18.0% of all world reserves - are located on the territory of Venezuela. Proved oil reserves in this country amount to 298.4 billion barrels. Saudi Arabia has the second largest oil reserves in the world. The volume of its proven reserves is about 268.3 billion barrels of oil (16.2% of the world). Proven oil reserves in Russia amount to approximately 4.8% of the world's - about 80.0 billion barrels, in the US - 36.52 billion barrels (2.2% of the world).

Oil reserves in the countries of the world (as of 2015), barrels

Production and consumption of oil by country

The world leader in oil production is Russia - 10.11 million barrels per day, followed by Saudi Arabia - 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 countries of the world (as of 2015), barrels per day

data http://www.globalfirepower.com/

Oil consumption by countries of the world (as of 2015), barrels per day

data http://www.globalfirepower.com/

Experts from the International Energy Agency (IEA) expect global oil demand to grow by 1.4 million barrels per day in 2016 to 96.1 million barrels per day. In 2017, according to forecasts, global demand will 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. Export leaders are Saudi Arabia - 7.2 million barrels per day and Russia - 4.9 million barrels per day.

Export volume by countries of the world in 2015

place	country	export volume, bbl/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 countries of the world in 2015

place	country	import volume, bbl/day	change, % 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	France	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	Turkey	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. Proved oil reserves (for 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, annual volume world oil production exceeds 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 for another 10-50 years.

US oil market

As of 2015, the US imported approximately 39% of its total oil consumption and produced 61% of its own. The main oil exporting countries to the US are Saudi Arabia, Venezuela, Mexico, Nigeria, Iraq, Norway, Angola and the UK. Approximately 30% of US oil imports and 15% of total US oil consumption is of Arab origin.

According to experts, the strategic oil reserves in the United States currently amount to more than 695 million barrels, and commercial oil reserves - about 520 million barrels. For comparison, in Japan, the strategic oil reserves are about 300 million barrels, and in Germany - about 200 million barrels.

US unconventional oil production increased approximately five-fold 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 as it is often called, light oil from tight reservoirs, in total oil production in 2016 was 36% (compared to 16% in 2012).

U.S. conventional crude oil production (including condensate) was 8.6 mb/d in 2015, down 1.0 mb/d from 2012. The total volume of oil production in the USA, including shale, in 2015 amounted to more than 13.5 million barrels per day. Most of the gains in recent years have been driven by increases in oil production in North Dakota, Texas and New Mexico, where hydraulic fracturing (HF) and horizontal drilling for the production of oil from shale formations.

In percentage terms (up 16.2% over the previous year), 2014 was the best year in more than six decades. The annual increase 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 much lower than they are now. US oil production has grown in each of the previous six years. This trend followed the period from 1985 to 2008, in which oil production fell every year (except for one year). In 2015, growth in US oil production stalled 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 has been raised to $43.57 per barrel, and for 2017 to $52.15 per barrel.

This is stated in a press release from BP, dedicated to the publication of the annual statistical review of the company. Last year Russia produced 540.7 million tons of oil and condensate. 254.7 million tons of crude oil and 150.1 million tons of oil products were exported, a company representative explained. In sum, this figure is more than that of Saudi Arabia, he added. Data on the export of oil and oil products from Saudi Arabia are not disclosed in the report. The representative of BP did not do this either. But the report says that the country's oil production rose to a record 568.5 million tons, while domestic consumption was 168.1 million tons. The difference, it turns out, was 400.4 million tons.

Exports from Russia grew due to an increase in the production of liquid hydrocarbons with a decrease in the volume of refining, explains Vygon Consulting consultant Daria Kozlova. Production was affected by tax incentives for new fields in a number of regions and favorable pricing conditions, said Denis Borisov, director of the EY Moscow Oil and Gas Center. According to him, 2015 was the first year in more than 10 years when processing in Russia was reduced. First of all, this is due to a decrease in customs subsidies due to the fall in oil prices, continues Kozlova. 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 is cheaper than crude oil, says Borisov.

The Ministry of Energy explains the growth in exports by the same factors. Domestic oil consumption in Russia fell by 5.2% due to the downturn in the economy, according to BP.

Europe (purchased 488.1 million tons of oil and 184 million tons of oil products) and China (335.8 million and 69.5 million tons) provided the largest increase in imports in the world last year. Russia remains Europe's leading supplier of oil and gas, accounting for 37% and 35% of European consumption, according to BP. Europe last year received 158.5 million tons of oil and 88.9 million tons of oil products, China - 42.4 million and 3.8 million tons. Focus on Asia - the main trend for Russian exporters over the past few years, the share of deliveries to the East is growing, says Alexander Kornilov, senior analyst at Aton. He calls Rosneft a pioneer here - it has long-term contracts with CNPC.

But Rosneft plans to increase oil supplies to European consumers via the Druzhba pipeline by 3-5% this year to about 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: in 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 the calls of Vedomosti, the representative of Bashneft was unavailable to journalists.

OPEC, Russia and other producers are in the midst of a collaborative effort to forcibly rebalance the oil market, with prices climbing to their two-and-a-half-year highs in recent weeks.

However, with continued strong oil exports dampening market sentiment, CNBC is looking at the top 10 oil exporters in the world.

Oil production and its ancillary activities account for approximately 45 percent of Angola's gross domestic product (GDP) and about 95 percent of its exports.

Since joining OPEC in 2007, Angola has become the sixth largest oil exporter in the Cartel.

9. Nigeria

Nigeria, the most populous country within OPEC, is the largest exporter and producer of oil in Africa.

8. Venezuela

In 2016, Venezuela, a founding member of the 14-member cartel, exported about 1.9 million barrels per day in 2016, according to OPEC.

Although the South American country boasts the largest oil reserves in the world, it is currently in the midst of a full blown crisis. The ongoing turmoil was fueled by years of economic inactivity, further compounded by a three-year drop in oil prices. Venezuela has endured food shortages, high inflation and violent street clashes as President Nicolas Maduro prioritizes repaying international loans.

Oil revenues account for approximately 95 percent of the country's export earnings.

President Donald Trump has threatened to end the international nuclear treaty with Iran, and if the US Congress agrees, Tehran could receive new sanctions that will affect the ability international companies do business in an oil-rich country.

OPEC estimates that Kuwait exported more than 2.1 million barrels per day in 2016.

The oil and gas sector of the OPEC member country accounts for about 60 percent of the country's GDP, as well as 95 percent of export earnings.

5. United United Arab Emirates

According to OPEC data, the United Arab Emirates exported almost 2.5 million barrels per day in 2016.

Approximately 40 percent of the country's GDP is directly dependent on oil and gas production. The country, which consists of seven emirates along the Arabian Peninsula, joined OPEC in 1967.

Canada exports just over 3.2 million barrels per day, according to the most recent figures published by the World Factbook.

The non-OPEC country exported nearly as much as Africa's top two exporters. Canada ranks third in the world in terms of oil reserves.

OPEC and Russian officials have called on some of the world's top oil producers, both inside and outside the cartel, to form a consensus and support a supply cut mechanism by the end of 2018.

And while Iraq is OPEC's second-largest oil producer and exporter, Baghdad has yet to cut production to the level it agreed to last winter.

Iraq exported 3.8 million bpd in 2016, according to data released by OPEC.

2. Russia

Moscow and OPEC are aiming to cut oil production to clear the global supply glut since January. The goal is to reduce global oil reserves and drain the surplus that has driven prices down over the past three years.

1. Saudi Arabia

Saudi Arabia is the world's leading exporter and second largest oil producer. The OPEC leader exported 7.5 million bpd in 2016, according to data published on the cartel's website.

The Kingdom's successor to the throne ordered the arrest of powerful royal princes and businessmen in early November, which officials called anti-corruption.

Some see the extraordinary purge as an attempt by Mohammed bin Salman to consolidate his power by eliminating potential rivals. And that could mean political uncertainty, tension and possibly unrest that has never been seen before in the history of the largest oil producer, OPEC.

1. Saudi Arabia

Saudi Arabia is the world's leading exporter and second largest oil producer. The country exported 7.5 million barrels a day in 2016, according to data published on the cartel's website.

On November 5, 2017, 11 high-ranking officials, including ministers and members of the royal family, were removed from power and arrested in Saudi Arabia. Most of them face charges of bribery, money laundering and other abuses. Among them is billionaire Al-Waleed bin Talal.

Some experts believe the extraordinary purge is an attempt by the king's heir, Prince Mohammed bin Salman, to consolidate his power by eliminating potential rivals. And that could bring political uncertainty, tension and possible unrest that the history of the world's largest oil producer has never known.

Russia, the world's largest oil exporter outside the OPEC cartel, exported more than 5 million barrels of oil per day in 2016 - the country increased oil exports by 4.8% year-on-year to 253.9 million tons, according to data from the Central supervisory control (CDU) of the fuel and energy complex.

According to OPEC forecasts, the demand for oil in the world will grow by 5 million barrels per day in the next five years, and by 14.7 million barrels per day by 2040, primarily due to developing countries. But in Russia, a gradual reduction in oil production is expected due to the depletion of old fields and US sanctions that prohibit the supply of technologies to the country for shale mining and projects in the Arctic.

In the long term, oil production in Russia, according to OPEC forecasts, will decrease to 11.2 million barrels per day in 2025 and to 11.1 million barrels per day in 2030 and will remain at this level in 2035 and in 2040. As a result, Russia will cede the world leadership in terms of oil production to the United States, and the share of Russian oil in world consumption will decrease from 11.4% in 2017 to 9.9% in 2040.

Although Iraq is the second largest oil producer and exporter among OPEC members, Baghdad has not yet reduced production to the level it agreed to last winter. The country exported 3.8 million barrels per day in 2016, according to data released by OPEC.

Canada ranks third in the world in terms of oil reserves, according to the latest data published by the World Factbook, Canada exports just over 3.2 million barrels per day. The non-cartel country exports almost as much as the top two exporters in Africa. Canada can significantly interfere with the rebalancing of the oil market. According to Kevin Byrne of IHS Markit, in the coming years, only the United States will overtake Canada in terms of production growth.

The Canadian Association of Petroleum Producers (CAPP) forecasts that oil production will increase by 270,000 barrels per day in 2017 and by another 320,000 barrels in 2018. In total, this is almost a third of all volumes that OPEC and other major producers agreed to withdraw from the market.

In 2016, the United Arab Emirates exported almost 2.5 million barrels per day in 2016, according to OPEC data. About 40% of the country's GDP is directly dependent on oil and gas production. The UAE joined OPEC in 1967.

OPEC estimates that Kuwait exported more than 2.1 million barrels per day in 2016. Kuwait's oil and gas sector accounts for about 60% of the country's GDP, as well as 95% of all export earnings.

In 2016, Iran exported almost 2 million bpd, according to OPEC. In October, US President Donald Trump new strategy regarding Iran. It accuses Tehran of intervening in conflicts in Syria, Yemen, Iraq, and Afghanistan. Trump said Iran was not honoring the spirit of the 2015 nuclear deal and threatened to change the terms of the deal on the Iranian nuclear program if the U.S. Congress approved it. This will be the renewal of US sanctions against Iran, which will affect the ability of international companies to do business there.

8. Venezuela

In 2016, Venezuela, the founding member of the cartel, exported about 1.9 million barrels per day. Although Venezuela boasts the largest oil reserves in the world, the country is currently in the midst of a full blown crisis.

international rating agency S&P has downgraded Venezuela to default. Venezuela reeled with food shortages, colossal inflation and street clashes. The ongoing unrest was caused by years of economic crisis exacerbated by a three-year decline in oil prices. Oil revenues account for approximately 95% of the country's total export earnings.

9. Nigeria

Nigeria is the most populous country in the OPEC cartel, it is also - largest exporter and oil producer in Africa. According to data released by OPEC, in 2016 the country slightly outpaced Angola in oil exports - with a result of just over 1.7 million barrels per day.

10. Angola

In 2016, Angola exported 1.7 million barrels per day, according to OPEC. Oil production and associated ancillary activities account for approximately 45% of Angola's GDP and about 95% of its exports. Since joining OPEC in 2007, Angola has become the sixth largest oil exporter in the cartel.

The total actual need for net oil imports for all EU countries (28) was 3.82 billion barrels (10.5 million barrels per day) in 2015. The energy deficit in oil and oil products is estimated at 86%. 100% is when absolutely all oil and oil 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 downward trend in imports since 2005.

In 2015, oil imports are 9-10% lower than the peak levels of 2005-2006. The EU is a stagnating market for energy resources. Demand is not growing there for three reasons: the economic recession since 2007, the increase in energy efficiency, the development of alternative energy sources. Over the next 10 years, oil imports to the EU28 will decrease by at least another 10% in physical terms, mainly due to energy efficiency improvements 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 nearest competitor (Norway) by 2.5 times. Average daily oil supplies of more than 500 thousand barrels per day are provided by only 7 countries - Russia, Norway, Nigeria, Saudi Arabia, Iraq, Kazakhstan, Azerbaijan. All countries of the Middle East provide only 1.8 million barrels. per day or slightly less than 18% of total supplies. But entering the Iranian market in 2016 can provide at least 600,000 barrels - that's how much was supplied to the EU (28) before the Iranian embargo. All African countries - this is about 2.6 million barrels.

The table shows from which country and where oil went in 2015 in million barrels per year according to my compilation of oil flows. We are talking 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.

It's in in general terms. And what the EU means by diversifying energy supplies (from where, where and how) is a separate discussion.

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