๐ฅ Global Oil Supply Concentration โ Quick Breakdown
According to global production data, the worldโs oil output is highly concentrated among a few major producers:
๐ Top Oil Producing Countries (2023โ24)
โข ๐บ๐ธ United States: ~22% of global oil output
โข ๐ธ๐ฆ Saudi Arabia: ~11%
โข ๐ท๐บ Russia: ~11%
โข ๐จ๐ฆ Canada: ~6%
โข ๐จ๐ณ China: ~5%
โข ๐ฎ๐ถ Iraq: ~4%
โข ๐ฎ๐ท Iran: ~4%
โข ๐ฆ๐ช UAE: ~4%
โข ๐ง๐ท Brazil: ~4%
โข ๐ฐ๐ผ Kuwait: ~3%
(Top 10 together ~73% of production)
โก These figures highlight how a small group of countries dominates global oil supply, shaping energy markets and geopolitics.
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