Where are we getting our oil?

(bettertrades) - Specific regions of the world are responsible for most of global supply. The Organization of the Petroleum Exporting Countries (Algeria, Angola, Ecuador, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, UAE, and Venezuela) supplies the greatest percentage (About 40 percent) of oil. Canada, Russia, Mexico, and the United States are also major producers of energy.

As of 2008, it is estimated the Middle East has 56% of the world's oil reserves, North American has 16%, Africa holds 9%, Central & South America have 8%, and Eurasia has 7%.

Article Index

• Intro
• Cost Per Barrel
• Other Factors
• Where is the oil
• Forecasting