Fact #266: May 5, 2003
World Oil Reserves, Production, and Consumption, 2002
The United States in 2002 was responsible for 2% of world crude oil reserves, 9% of petroleum production, and 25% of petroleum consumption. The Organization for Petroleum Exporting Countries (OPEC) nations have 80% of the world crude oil reserves and 41% of world petroleum production.
- Refinery gains, including alcohol and liquid products from coal and other sources, cause total consumption to be higher than total production.
- OPEC countries include Venezuela, Iran, Iraq, Kuwait, Qatar, Saudi Arabia, United Arab Emirates, Algeria, Libya, Nigeria, Indonesia, Gabon, and Ecuador.
- OPEC consumption data are for 2001.
|(billion bbl)||Reserve Share||(million bbl/d)||Production
|Rest of World||186.1||18%||34.7||52%||51.6||67%|