Fact #88: May 11, 1999
World Oil Reserves, Production, and Consumption, 1998
Notes:
- Consumption is higher than production due to refinery gains including alcohol and liquid products produced from coal and other sources.
- OPEC countries include Venezuela, Iran, Iraq, Kuwait, Qatar, Saudi Arabia, UAE, Algeria, Libya, Nigeria, and Indonesia.
- OPEC oil consumption is estimated using 1997 data and historic trends.
Supporting Information
| Area | Reserves | Production | Consumption |
|---|---|---|---|
| United States | 2% | 9% | 25% |
| OPEC | 78% | 43% | 8% |
| Rest of World | 20% | 48% | 67% |
|
Source: DOE/EIA, International Petroleum Statistics Reports, April 1999; DOE/EIA, International Energy Annual 1997, DOE/EIA-0219(97), February 1999. | |||
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