Question: What Country Is The Largest Consumer Of Oil?

How many years of oil is left in the world?

Globally, we currently consume the equivalent of over 11 billion tonnes of oil from fossil fuels every year.

Crude oil reserves are vanishing at a rate of more than 4 billion tonnes a year – so if we carry on as we are, our known oil deposits could run out in just over 53 years..

Where is the most oil?

VenezuelaOil Reserves by Country#CountryOil Reserves (barrels) in 20161Venezuela299,953,000,0002Saudi Arabia266,578,000,0003Canada170,863,000,0004Iran157,530,000,00094 more rows

Who is the richest oil company?

China’s Sinopec Group ranks first on the list of the world’s leading oil and gas companies of 2019 with revenues of more than US$430 billion, ahead of Shell and Saudi Aramco.

Who is the biggest exporter of oil?

Kingdom of Saudi Arabia1. Saudi Arabia. Officially known as the Kingdom of Saudi Arabia, the country of Saudi Arabia is the world’s number one oil exporter. Formed in 1932, the country was responsible for 16.1% of global oil exports in 2018, totaling $182.5 billion in value.

Which countries are the biggest consumers of oil and gas?

What countries are the top producers and consumers of oil?CountryMillion barrels per dayShare of world totalUnited States19.4719%Saudi Arabia11.6212%Russia11.4911%Canada5.505%8 more rows

Which country consumes the most oil per year?

United StatesList of countries by oil consumptionRankCountry/RegionYear-World (incl biofuels)20191United States2019-European Union20172China2019116 more rows

Who has most oil in world?

Venezuela1. Venezuela – 304 billion barrels. Venezuela has the largest oil reserves of any country in the world, with more than 300 billion barrels of proven reserves. That is a 17.5% share of the entire global resource, and in 2011 the country surpassed Saudi Arabia to top worldwide list.

Is there oil on the moon?

Saturn’s orange moon Titan has hundreds of times more liquid hydrocarbons than all the known oil and natural gas reserves on Earth, according to new Cassini data. … Instead of water, liquid hydrocarbons in the form of methane and ethane are present on the moon’s surface, and tholins probably make up its dunes.

Who is the richest oil tycoon?

Offshore-technology lists the five richest people in oil and gas based on Forbes’ estimates of net worth….Mukesh Ambani – $55.3bn.Leonid Mikhelson – $25.4bn. … Vagit Alekperov – $21.6bn. … Gennady Timchenko – $21.3bn. … Harold Hamm – $13.8bn. …

What are the top 5 oil consuming countries?

In 2018, Saudi Arabia, the USA, Canada, South Korea, Japan, Germany, Russia, Brazil, China and India were the top 10 oil consuming countries (see chart World top 10 oil consumers in 2018).

Which country has the largest oil reserves 2019?

Here are the top 10 countries in the world with the biggest oil reserves according to OPEC’s Annual Statistical Bulletin in 2019:Venezuela – 302.8 billion barrels. … Saudi Arabia – 267 billion barrels. … Iran – 145 billion barrels. … Iraq – 145 billion barrels. … Kuwait – 101.5 billion barrels.More items…•

Who is the number 1 oil producing country?

The top five largest oil producers are the following countries:United States. The United States is the top oil-producing country in the world, with an average of 19.47 million barrels per day (b/d), which accounts for 19% of the world’s production. … Saudi Arabia. … Russia. … Canada. … China.