Constitutional Sheepdog
][][][%er!!!!!!!
1. United StatesOK. Thank you. I'm surprised that the US even has the most natural gas. I know we don't have the most oil; I heard Venezuela has the largest oil deposits.
Production: 15,647,000 bpd
Number one on this list of the top 10 oil-producing countries is the US. It produced the most oil in 2017, with output increasing from 14,855,000 barrels per day (bpd) in 2016 to 15,647,000 bpd in 2017.
The US has been described as a swing producer because its production fluctuates alongside market prices. The International Energy Agency forecasts that the country will continue to satiate the world’s appetite for oil as demand expands in the next five years.
In addition to being a major oil producer, the US is a big consumer of oil. Last year, the US took in a total of 7.26 billion barrels of petroleum products — that’s an average of about 19.88 million bpd. As mentioned, Trump has criticized OPEC’s cuts, saying they have driven oil prices artificially high. He has also instigated sanctions against both Russia and Iran, and pulled the US out of the Iran nuclear deal. Investors will have to see if or how these developments affect US oil exports.