Visualizing the Rise of the U.S. as Top Crude Oil Producer
April 10, 2024

By  Article/Editing: Bruno Venditti Graphics/Design: Joyce Ma

Visualizing the Rise of the U.S. as Top Crude Oil Producer

Over the last decade, the United States has established itself as the world’s top producer of crude oil, surpassing Saudi Arabia and Russia.


This infographic illustrates the rise of the U.S. as the biggest oil producer, based on data from the U.S. Energy Information Administration (EIA).


U.S. Takes Lead in 2018


Over the last three decades, the United States, Saudi Arabia, and Russia have alternated as the top crude producers, but always by small margins.


During the 1990s, Saudi Arabia dominated crude production, taking advantage of its extensive oil reserves. The petroleum sector accounts for roughly 42% of the country’s GDP, 87% of its budget revenues, and 90% of export earnings.


However, during the 2000s, Russia surpassed Saudi Arabia in production during some years, following strategic investments in expanding its oil infrastructure. The majority of Russia’s oil goes to OECD Europe (60%), with around 20% going to China.

Crude Oil Production United States Saudi Arabia Russia
1992 11.93% 13.97% 12.74%
1993 11.50% 13.68% 11.35%
1994 10.96% 13.32% 10.50%
1995 10.60% 13.17% 9.96%
1996 10.21% 12.87% 9.49%
1997 9.84% 12.73% 9.29%
1998 9.39% 12.58% 9.05%
1999 9.06% 11.99% 9.33%
2000 8.67% 12.33% 9.64%
2001 8.65% 11.89% 10.45%
2002 8.63% 11.49% 11.53%
2003 8.05% 12.92% 12.10%
2004 7.46% 12.74% 12.67%
2005 7.00% 13.21% 12.82%
Crude Oil Production United States Saudi Arabia Russia
2006 6.85% 13.00% 12.90%
2007 6.84% 12.38% 13.29%
2008 6.71% 12.44% 12.56%
2009 7.32% 11.28% 12.98%
2010 7.37% 11.31% 13.03%
2011 7.55% 12.81% 13.02%
2012 8.50% 13.04% 12.94%
2013 9.76% 12.86% 13.10%
2014 11.18% 12.60% 12.86%
2015 11.67% 12.77% 12.66%
2016 10.92% 13.12% 13.02%
2017 11.53% 12.68% 13.05%
2018 13.21% 12.77% 12.96%
2019 14.90% 12.15% 13.20%
2020 14.87% 12.37% 12.97%
2021 14.59% 12.06% 13.10%
2022 14.73% 13.17% 12.76%

Over the 2010s, the U.S. witnessed an increase in domestic production, much of it attributable to hydraulic fracturing, or “fracking,” in the shale formations ranging from Texas to North Dakota. It became the world’s largest oil producer in 2018, outproducing Russia and Saudi Arabia.


The U.S. accounted for 14.7% of crude oil production worldwide in 2022, compared to 13.1% for Saudi Arabia and 12.7% for Russia.


Despite leading petroleum production, the U.S. still trails seven countries in remaining proven reserves underground, with 55,251 million barrels.


Venezuela has the biggest reserves with 303,221 million barrels. Saudi Arabia, with 267,192 million barrels, occupies the second spot, while Russia is seventh with 80,000 million barrels.


Copyright © 2024 Visual Capitalist

VVC Appoints New President & Grants Options

March 18, 2025
TORONTO, March 18, 2025 - VVC Exploration Corporation, dba VVC Resources, (“VVC”), (TSX-V:VVC and OTCQC:VVCVF) announces the following: Appointment of Officers The Directors appointed Mr. Bill Kerrigan as President and Chief Operating Officer of VVC. Mr. Kerrigan will continue to be President of Plateau Helium Corporation. Mr. James A. Culver will remain as CEO of VVC. VVC Chairman, Terrence Martell, commented, "As a representative of Management and the Board, I extend heartfelt gratitude to Mr. Culver for his years of service as President. I also welcome Mr. Kerrigan to his new role as President and I am confident that he will provide positive momentum for VVC." Option Grant The Directors also granted incentive stock options under its stock option plan, to officers, directors and consultants of the Company, to purchase up to an aggregate of 15,700,000 common shares, representing 2.74% of the outstanding shares of the Company. The stock options are exercisable at a price of CA$0.05 per share expiring March 17, 2035. 25% of the options granted will vest immediately with the remaining vesting at 25% every six months. The exercise price was fixed at the minimum allowable price by the TSX Venture Exchange policies. The options, granted in accordance with the provisions of the Company's stock option plan, are subject to the TSX Venture Exchange policies and the applicable securities laws. Of the Options granted, 41.1% were to Directors, 30.3% to Officers and 28.7% to Employees/Consultants of the Company. About VVC Resources VVC engages in the exploration, development, and management of natural resources - specializing in scarce and increasingly valuable materials needed to meet the growing, high-tech demands of industries such as manufacturing, technology, medicine, space travel, and the expanding green economy. Our portfolio includes a diverse set of multi-asset, high-growth projects, comprising: Helium & industrial gas production in western U.S.; Copper & associated metals operations in northern Mexico; and Strategic investments in carbon sequestration and other green energy technologies. VVC is a Canada-based, publicly-traded company on the TSXV (TSX-V:VVC). To learn more, visit our website at: www.vvcresources.com. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Results of VVC Annual Shareholders’ Meeting

December 5, 2024
The Company’s Annual General Meeting of Shareholders (“AGM”) took place virtually yesterday with 34 attendees (shareholders and guests). Total attendance in person and by proxy was 137 shareholders representing about 51.4% of the outstanding shares. At the AGM, shareholders approved the election of all Directors proposed by Management with over 90% of the tendered votes being in favor, and the re-appointment of MNP LLP as auditors of the Company with all of the tendered votes being in favor.
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