Fact #336: September 6, 2004
World Oil Reserves, Production, and Consumption, 2003

The United States was responsible for 10% of the world's oil production, held 2% of the world's oil reserves, and consumed 25% of the world's oil consumption in 2003. The Organization for Petroleum Exporting Countries (OPEC) held 68% of the world's oil reserves and produced 41% of world oil.

World Oil Reserves, Production, and Consumption, 2003
Graph showing the production and consumption of world oil reserves by the U.S., OPEC, and the rest of the world in 2003.

Graph showing the production and consumption of world oil reserves by the U.S., OPEC, and the rest of the world in 2003.

Notes:

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 2002.

Supporting Information

World Oil Reserves, Production, and Consumption, 2003
	Crude Oil Reserves (billion barrels)	Reserve Share	Petroleum Production (million barrels per day)	Production Share	Petroleum Consumption (million barrels per day)	Consumption Share
U.S.	22.7	2%	7.5	10%	19.8	25%
OPEC	826.1	68%	30.3	41%	6.6	8%
Rest of World	364.3	30%	38.7	51%	51.8	66%
Sources: Reserves: Energy Information Administration, International Energy Annual 2002, Table 8.1. Production: Energy Information Administration, International Petroleum Monthly, July 2004, Tables 4.1a– 4.1c and 4.3. Consumption: Energy Information Administration, International Petroleum Monthly, July 2004, Table 4.6. OPEC consumption (2002 data): Energy Information Administration, International Energy Annual 2002, Table 1.2.

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Fact #336: September 6, 2004 World Oil Reserves, Production, and Consumption, 2003

Supporting Information

Fact #336: September 6, 2004
World Oil Reserves, Production, and Consumption, 2003