Saudi Arabia Oil

Oil Reserves in Saudi Arabia

See also: List of countries by Oil Reserves

Saudi Arabia holds 266,578,000,000 barrels of proven oil reserves in the world as of 2016, ranking #2 in the world and accounting for about 16.15% of the world’s total oil reserves of 1,650,585,140,000.

Saudi Arabia has proven reserves equivalent to 221.2 times its annual consumption levels. This means that, without Net Exports, there would be about 221 years of oil left (at current consumption levels and excluding unproven reserves).

History of Oil Reserves in Saudi Arabia

Oil Consumption in Saudi Arabia

See also: List of countries by Oil Consumption

• Saudi Arabia consumes 3,302,000 barrels per day (B/d) of oil as of the year 2016.

• Saudi Arabia ranks #6 in the world for oil consumption, accounting for about 3.40% of the world’s total consumption of 97,103,871 barrels per day.

• Saudi Arabia consumes 4.51 gallons of oil per capita every day (based on the 2016 population of 30,717,808 people), or 1,648 gallons per capita per year (39 barrels). [1 barrel = 42 US Gallons]

Oil Production in Saudi Arabia

See also: List of countries by Oil Production

• Saudi Arabia produces 12,402,761 barrels per day of oil (as of 2016) ranking #2 in the world.

• Saudi Arabia produces every year an amount equivalent to 1.7% of its total proven reserves (as of 2016).

Oil Exports

• Saudi Arabia exports 59% of its oil production (7,333,556 barrels per day in 2016).

History of Oil Consumption and Production