Introduction

The world's largest oil producer is still Saudi Arabia. The country has some of the largest deposits of oil in the world and is also a member of OPEC (Organization of Petroleum Exporting Countries). In 2013 its production was over 10 million barrels per day (bpd) and it produced over 13% of global oil production. Production levels have not changed significantly over the past decade but are expected to increase slightly in 2014. The top 20 richest countries are still rich and powerful despite being resource poor because they have been able to diversify their economies into other areas such as service industries (like tourism) or technology manufacturing.

Saudi Arabia has some of the largest deposits of oil in the world.

Saudi Arabia is the world's largest producer of oil, with over 12 million barrels per day. It has over 80% of the world's proven oil reserves and is the largest exporter of oil in the world, accounting for about 20% of total global production.

It is the top producer of oil in the world.

Saudi Arabia is the largest oil producer in the world. It produces 10 million barrels of oil per day, which is more than any other country on earth. Saudi Arabia also possesses the largest amount of proven oil reserves in the world at 266 billion barrels.

The Saudi government established Saudi Aramco (Arabian American Oil Company) in 1933 with an initial investment from Standard Oil Company of California (today's Chevron). This company has been responsible for all exploration and production activities ever since, producing over 90 percent of Saudi Arabia's crude exports.

Saudi Arabia is also a member of OPEC, or Organization of Petroleum Exporting Countries—a group founded primarily to ensure fair pricing for its members' collective production capacity within an environment where individual producers often have little market power due to their smaller size relative to larger competitors like Russia or Iran..

It is a member of OPEC, the Organization of Petroleum Exporting Countries.

OPEC is an intergovernmental organization of 14 oil-producing countries that controls the supply, price, and distribution of oil on the world market. It is headquartered in Vienna, Austria. The current OPEC members are Algeria, Angola, Ecuador, Gabon, Iran, Iraq ( observer), Kuwait (observer), Libya (observer), Nigeria (partner country/ non-official member), Qatar (observer/ partner country), Saudi Arabia , United Arab Emirates and Venezuela .

The group was founded in 1960 by five countries: Iran , Iraq , Kuwait , Saudi Arabia and Venezuela . Since then it has grown to include 13 member countries and one partner country/non-member state; Nigeria became a full member in 1971 but left again in 2017. Each member agrees to abide by quotas for crude oil production within its territory; these quotas are reviewed every five years at each general meeting of OPEC when delegates from all 14 members gather together to set production levels for each country over the next five years.(4)

In 2013 it's production was over 10 million barrels per day (bpd) and it produced over 13% of global oil production.

Saudi Arabia is the world's top producer of oil and it produced over 13% of global oil production in 2013. Saudi Arabia produced over 10 million barrels per day in 2013, making it the largest exporter of oil.

Saudi Arabia has the world's largest oil reserves at 268 billion barrels, which is about one-quarter of all proven global reserves.

Production levels have not changed significantly over the past decade but are expected to increase slightly in 2014.

Saudi Arabia is the world's largest oil exporter and third-largest oil producer, with total production of 10.3 million barrels per day (bpd) in 2013, up slightly from 10.2 million bpd in 2012. Saudi Arabian Oil Co., known as Saudi Aramco, has been the state-owned producer of Saudi Arabia's crude oil since its formation in 1980.

Saudi Arabia accounts for about 15% of total global proven crude oil reserves and is also the largest exporter of refined products such as gasoline and diesel fuel to other countries around the globe [4].

The top 20 richest countries are still rich and powerful despite being resource poor.

Saudi Arabia is the world’s largest oil producing country and has more oil reserves than any other country in the world. It's also a member of OPEC, and is currently leading efforts to control production in order to drive up prices. Saudi Arabia exports more than 7 million barrels of crude oil per day, which accounts for around 16% of global supply—but it also needs money from all that free-flowing cash: The kingdom spends $60 billion on imports each year.

Saudi Arabia is one of 20 G20 countries, including the U.S., China, Russia and Japan—countries that account for 80% of global GDP but who together own less than 2% (!) of total land area on Earth. The top 20 richest countries are still rich and powerful despite being resource poor or having low population density (which means few people).

There is no need to worry about running out of oil any time soon, although we will eventually.

The good news is that you do not need to worry about running out of oil any time soon. There is enough of it left for us to continue using it for the next couple hundred years, but eventually we will have run through all of it. We need to start looking now for alternative sources of energy, so that when our supplies dwindle we can still power our lives and economy with something else.

Oil is a finite resource—it’s not renewable, and once we empty out all the earth’s reserves there won't be anymore. As you might already know from biology class: living things only grow while they're alive; once they die their tissues stop growing and their bodies break down into simpler organic compounds; this process happens naturally over hundreds or thousands of years depending on how complex your organism was before death happened. Fossil fuels are like “dead organisms” buried underground for millions upon millions (or billions) upon billions (or trillions?) years ago—they don't get replenished by anything living today since everything died back then!

Conclusion

The world will still have plenty of oil for a long time. However, it is important that we focus on alternative fuels and sources of energy as well. It is also important not to rely too heavily on one country's supply like Saudi Arabia or any other country's supply because the volatility of oil prices can cause problems for consumers worldwide. In addition, we need to protect our environment by finding ways to produce electricity without producing greenhouse gases which contribute so significantly towards climate change."