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Fact #380: July 11, 2005
World Oil Reserves, Production, and Consumption, 2004

The United States was responsible for 9% of the world's petroleum production, held 2% of the world's crude oil reserves, and consumed 25% of the world's petroleum consumption in 2004. The Organization for Petroleum Exporting Countries (OPEC) held 70% of the world's crude oil reserves and produced 41% of world petroleum.

World Oil Reserves, Production, and Consumption, 2004
Graph showing the production and consumption of the world's oil reserves for the U.S., OPEC, and the rest of the world in 2004.

Supporting Information

World Oil Reserves, Production, and Consumption, 2004
  Crude oil reserves
(billion barrels)		 Reserve share Petroleum production
(million barrels per day)		 Production share Petroleum consumption
(million barrels per day)		 Consumption share
United States 21.9 2% 7.2 9% 20.5 25%
OPEC 876.6 70% 32.7 41% 7.0 8%
Rest of world 357.5 28% 40.0 50% 55.1 67%

Source:
Reserves – Energy Information Administration, International Energy Annual 2003, Table 8.1

Production – Energy Information Administration, International Petroleum Monthly, May 2005, Tables 4.1a–4.1c and 4.3

Consumption – Energy Information Administration, International Petroleum Monthly, May 2005, Table 4.6

OPEC consumption (2003 data) – Energy Information Administration, International Energy Annual 2003, Table 1.2

 

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