Refined Products
As of January 2002, 72.7 million bbl/d of the world's 81.2 million bbl/d of
crude oil refinery capacity was located in non-OPEC countries. Countries with
high petroleum demand tend to have large refinery capacities. The U.S. has
far more refinery capacity than any other country, with 143 of the world's
732 refineries, and a crude oil refinery capacity of about 16.6 million bbl/d.
Russia's refinery capacity stands at an estimated 5.4 million bbl/d. Japan
(4.8 million bbl/d) and China (4.5 million bbl/d) are the only remaining countries
with refinery capacities exceeding 3 million bbl/d. There are several countries
that are important to world trade in refined petroleum products despite very
low (or non-existent) levels of crude oil production. For instance, Caribbean
nations have very limited oil production (170,000 bbl/d in 2000), but refinery
capacity of about 1.6 million bbl/d. Much of this refined product is exported
to the United States. Other countries that are important sources of refined
petroleum products yet have very limited domestic production include the Netherlands,
South Korea and Singapore.
World Oil Production by country, 2001:
Of the 14 countries that produced more than 2 million barrels per day in 2001,
seven were OPEC members. The remaining seven were not OPEC members, including
United States of America, Russia, Mexico, China, Canada, Norway and the United
Kingdom. In terms of country wise production, United States is the largest
producer, followed by Saudi Arabia, Russia, Iran and Mexico. But a mere enumeration
of the top oil producers by itself cannot explain the dynamics of the oil
market. A listing of the top world oil net exporters are essential to have
the grasp of the dynamics of the world oil market in terms of dependence and
control. Non-OPEC production is expected to rise the next 1-3 years, with
the greatest increases in the former Soviet Union, including Russia and the
countries bordering the Caspian Sea; and in North America with Mexico, Canada
and the United States of America all expected to grow.
Top World Oil Net exporters, 2001
Of the world’s top net exporters, OPEC countries are more strongly represented.
Nine of the twelve countries exporting more than one million barrels per day
in 2001 were OPEC members. Russia, Norway, and Mexico are the world’s
largest non-OPEC exporters. The U.S is the world’s largest importer.
China is also a net importer, while Canada and United Kingdom are smaller
net exporters.
*Table includes all countries with net exports exceeding 1 million barrels
per day in 2001.The countries highlighted in Blue are OPEC countries
World Oil Consumption, 2001
Of the 76.0 million bbl/d of oil that the world consumed in 2001, OPEC countries
together consumed about 5.8 million bbl/d, or 8%.
