Fact #487: September 17, 2007
World Oil Reserves, Production, and Consumption, 2006
The United States was responsible for 8% of the world's petroleum production, held 2% of the world's crude oil reserves, and consumed 24% of the world's petroleum in 2006. The Organization for Petroleum Exporting Countries (OPEC) held 70% of the world's crude oil reserves and produced 41% of world petroleum.
|Crude Oil Reserves
|Reserve Share||Petroleum Production
(million barrels per day)
|Production Share||Petroleum Consumption (million barrels
|Rest of World||362.4||28%||40.9||50%||56.1||66%|