Saudi Arabia largest petroleum producer in 2012

Saudi Arabia largest petroleum producer in 2012

Saudi Arabia was the largest producer of petroleum in the world during 2012, according to the U.S. Energy Information Administration. The country was also the world's largest exporter of petroleum and other liquids, sending an estimated 8.6 million barrels per day out of the country.

The country averaged a petroleum production of 11.6 million barrels per day, according to the International Energy Statistics and Short-Term Energy Outlook. The report said Saudi Arabia produces more than three times as much petroleum and other liquids than Iran, the next largest member of the Organization of the Petroleum Exporting Countries. Saudi Arabia also produces as much petroleum as the rest of the Middle East combined.

As the only country in the world with extensive spare oil production capacity, Saudi Arabia has an estimated 268 billion barrels of proved oil reserves. The report said that is more than 16 percent of the global total of proved reserves in the world.

According to the study, 16 percent of Saudi liquid exports were sent to the United States in 2012. Those imports from Saudi Arabia accounted for 13 percent of total liquid imports to the United States.

Visit PennEnergy's research area to learn more about the Saudi Arabian oil market.

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