Which countries economy is most supported by oil?



  1. 0 Votes

    Not perfectly clear what you mean. The United States, as by far the largest consumer of oil, certainly has an economy that simply would not exist without oil; the same could be said for all the consuming nations. Saudi Arabia’s basic economic needs depends vitally on the export revenue that is generated by oil sales; the same could be said for every oil exporting nation.

    Furthermore, “most supported by” is an entirely subjective concept. There is no way to quantify this, or to separate the aspects of an economy that depend on oil from the rest of it: you will find that it is all so intimately interconnected that there is no possibility of discretely separating the parts.

  2. jet
    0 Votes

    Look here for a full report, but, in summary, Saudi Arabia is the top oil producer, followed by Russia, the US, Iran, and Mexico. The US, China, Japan, and Russia are the top oil consumers and the US, Japan, China, and Germany are the top importers. 

    Saudi Arabia is basically funded on oil exports and is pretty dependent on demand of their resource. The US, however, is the most oil hungry country as of late. 

    • 0 Votes

      For the record, Mexico’s production has fallen considerably since 2006, and Canada would now be in Mexico’s place on the list. And China is #4, ahead of Iran. http://www.eia.gov/cfapps/ipdbproject/IEDIndex3.cfm?tid=5&pid=53&aid=1 As another answer indicates, Russia and Saudi Arabia pretty much see-saw between them for the #1 and #2 spot, depending on the month.

      And the US is the most “oil hungry” for far more decades than “of late” – the US has been by far the largest oil consumer since at least 1920.

  3. 0 Votes

    According to 2009 data compiled by the U.S. Energy Information Administration, Russia is the world’s leader in oil production at 9.5 million barrels per day. Saudi Arabia produces less (8.3 million barrels), but actually exports more than Russia. As jet answered previously, the rest of the list is generally populated by the U.S., China, Iran, Mexico, Canada, United Arab Emirates, and Iraq. Every nation has a different economy and different exports, so a nation such as Saudi Arabia or the United Arab Emirates is incredibly reliant on oil exports to generate funds.

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