The Kingdom of Saudi Arabia is the largest Arab state in Western Asia by land area. It has the world’s second largest oil reserves. Saudi Arabia is the largest exporter of oil. Around 12.65 percent of world’s oil is produced in Saudi Arabia. This nation’s high income economy is largely backed by its oil industry, which accounts for more than 95 percent of its exports and 70 percent of government revenue. Oil has provided Saudi Arabia with economic prosperity and political leverage internationally. The nation produces 9,900,000 bbl/day.
The Russian Federation is at the top of the list. It is the largest producer of oil in the world. Oil has contributed significantly to the economic growth of Russia. It has improved the standard of living of Russians. The country produces 10,900,000 bbl/day that is around 13.28 percent of world’s oil.
The above-mentioned nations produce 84,820,000 bbl/day and are contributing significantly to the energy needs of our world.