Source: BP Statistical Review of World Energy
Global Oil Market, 2009
In 2003, the global oil production was at 70 million barrels per day. Oil production is marginal or non-existent in a large amount of countries, notably in Africa. Eight producers, Saudi Arabia, the United States, Russia, Iran, China, Venezuela, Mexico and Norway accounted for 55% of the global production. The global oil demand was at 77 million barrels per day. Oil demand is roughly a function of population and level of development. Seven countries, the United States, Japan, China, Germany, Russia, Italy and France, accounted for 52% of the global oil demand.
The geographical concentration of reserves in the Middle East is evident.