Oil Field Output (MBD) % of National Output Status
Ghawar (Saudi Arabia) 4.5 40% Possibly declining
Cantarell (Mexico) 2.0 (1.7 in 2007) 60% Declining
Burgan (Kuwait) 1.7 68% Declining
DaQing (China) 1.0 40% Possibly declining
Source: adapted from D. Luhnow (2006) "Mexico's Oil Output May Decline Sharply," Wall Street Journal, Feb 9.
World's Largest Oil Fields, 2005
Global oil production is peaking at the same time that there is a surge in new demand from newly industrialized countries. The world's largest oil fields have reached optimal output, with some declining. For instance, the Cantarell oil field in Mexico was assessed to be possibly declining in 2005. In 2007, its output declined to 1.7 million barrels per day confirming that the world's second largest oil field is in decline, joining the rank of Burgan (Kuwait) which also started declining in 2005.