by Eric Blair |
Based on figures from the US Energy Information Administration in 2014, the United States is the top producer of oil in the world with 13.97 million barrels per day and below we make a list of the top 20 oil producers and compare them with their standard of living using nominal GDP per capita figures.
1 United States 13,973,000
2 Saudi Arabia (OPEC) 11,624,000
3 Russia 10,853,000
4 China 4,572,000
5 Canada 4,383,000
6 UAE (OPEC) 3,471,000
7 Iran (OPEC) 3,375,000
8 Iraq (OPEC) 3,371,000
9 Brazil 2,950,000
10 Mexico 2,812,000
11 Kuwait (OPEC) 2,780,000
12 Venezuela (OPEC) 2,689,000
13 Nigeria (OPEC) 2,427,000
14 Qatar (OPEC) 2,055,000
15 Norway 1,904,000
16 Angola (OPEC) 1,756,000
17 Algeria (OPEC) 1,721,000
18 Kazakhstan 1,719,000
19 Colombia 1,016,000
20 India 978,000
[Source: US Energy Information Administration]
1 Norway 97,363
2 Qatar (OPEC) 93,397
3 United States 54,629
4 Kuwait (OPEC) 52,197
5 Canada 50,271
6 United Arab Emirates (OPEC) 42,522
7 Saudi Arabia (OPEC) 25,409
8 Venezuela (OPEC) 16,529
9 Russia 12,735
10 Kazakhstan 12,276
11 Brazil 11,612
12 Mexico 10,361
13 Colombia 7,720
14 China 7,594
15 Iraq (OPEC) 6,432
16 Angola (OPEC) 5,935
17 Algeria (OPEC) 5,361
18 Iran (OPEC) 5,292
19 Nigeria (OPEC) 3,184
20 India 1,630
[Source: World Bank]
For instance, all the countries at the bottom half of the table are highly corrupt nations and corruption hinders development. In comparison, the countries at the top half of the table are mostly less corrupt with only three exceptions, namely Russia, Venezuela, and Kuwait. So there you have it, the top oil producers in the world ranked by their standard of living. Being a top oil producer in the world does not necessarily mean a high standard of living of the country as many other factors are at play which could hinder development. Of the top oil producers in the world, only three of the countries are in the top 10 richest in terms of standard of living. Please leave your comments below. Cheers.
More: The richest countries in the world based on Natural resources