The 10 most oil-producing countries in Asia : The continent of Asia is the largest consumer of oil in the world, as well as the fastest growing, and this will not change much over the next few years, according to forecasts by OPEC.
The continent contains a significant proportion of proven reserves of oil, mainly the Middle East, where the largest oil producing and exporting country in Asia is located.
What are the most oil producing countries in Asia?
Saudi Arabia is the third largest oil producer in the world after the United States (11.3 million barrels) and Russia (9.8 million barrels) .
In 2020, the volume of Saudi oil production reached 9.2 million barrels per day, about 600,000 barrels less than Russia, and two million barrels less than the United States.
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Although it is not the first in production, the Kingdom is the largest exporter in the world, mainly due to the small volume of domestic consumption compared to the United States and Russia.
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Exploration for oil began in the Kingdom in 1933, and in 1938, the first huge discoveries began when Chevron Company managed to discover huge reserves in Dammam near the Persian Gulf .
The Kingdom's reserves are estimated today at 268 billion barrels, which is the second largest in the world after Venezuela 's estimated reserves of 300 billion barrels.
Since 1982, Saudi Arabia has kept data about the size of its proven reserves confidential, so it is difficult to know the true size of these reserves.
Iraq
Iraq is the fifth largest oil producer in the world, and the second in Asia, with a daily production estimated in 2020 of about 4.1 million barrels.
Iraq is one of the countries most dependent on oil, as this complex mixture of hydrocarbons constitutes more than 90 percent of the value of its annual exports.
In 2019, Iraq exported $81 billion of goods abroad, of which oil constituted 90 percent, about $73 billion.
The 10 most oil-producing countries in Asia
- Saudi Arabia 9.2 million barrels
- Iraq 4.1 million barrels
- China 3.8 million barrels
- The United Arab Emirates 3.1 million barrels
- Iran 2.6 million barrels
- Kuwait 2.6 million barrels
- Kazakhstan 1.7 million barrels
- Diameter 1.5 million barrels
- Sultanate of Oman 948,000 barrels
- Indonesia 693,000 barrels
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