Video produced using ‘Human Pal’ – https://app.humanpal.io/
Despite global concerns about climate change, oil continues to be one of the world’s most important resources.
Oil is produced by a fairly limited group of countries, with three nations (United States, Russia, and Saudi Arabia) consistently dominating production since 1971.
These three countries account for 32.7 million barrels per day, totalling 40% of global production.
In contrast, the combined production of the next three largest producers—Canada, Iraq, and China—reached 13.1 million barrels per day in 2023, just surpassing the production of the United States alone.
Analysts forecast that the U.S. will maintain its position as the top oil producer, and is expected to achieve a record 14 million barrels per day by the end of the year.
Data sourced from the U.S. Energy Information Administration (EIA).
Full article from the ‘Visual Capitalist’ web site:
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