The United States is the world's largest producer of crude oil, followed by Russia and Saudi Arabia. The United States has seen a significant increase in crude oil production in recent years, due to the development of new technologies such as hydraulic fracturing (fracking).
The global crude oil production is expected to continue to grow in the coming years, driven by rising demand from developing countries such as China and India. However, the growth in production is expected to be offset by declines in production from some mature oil fields.
The increase in crude oil production has led to a decline in oil prices in recent years. This has had a mixed impact on the global economy. On the one hand, lower oil prices have benefited consumers by reducing the cost of transportation and energy. On the other hand, lower oil prices have hurt oil producers and have led to job losses in the oil and gas industry.
The future of crude oil production is uncertain. The industry is facing a number of challenges, including the decline in conventional oil reserves, the rise of renewable energy sources, and the increasing environmental concerns about oil production. However, crude oil is still a major source of energy for the world, and it is likely to remain so for many years to come.
Difference between recent and previous period
The data shows that crude oil production increased in recent period compared to previous period. The average increase across all countries was 20.0952 barrels per day (b/d). The largest increase was in the United States, which increased production by 213 b/d. The smallest increase was in Nigeria, which decreased production by 269 b/d.
+----+----------------------+----------+------------+-------------+----------+--------------+| | Country | Now | Previous | Reference | Unit | Difference ||----+----------------------+----------+------------+-------------+----------+--------------|| 0 | United States | 12696 | 12483 | Mar/23 | BBL/D/1K | 213 || 1 | Russia | 10477 | 10327 | Feb/23 | BBL/D/1K | 150 || 2 | Saudi Arabia | 10461 | 10464 | Apr/23 | BBL/D/1K | -3 || 3 | Canada | 4625 | 4538 | Feb/23 | BBL/D/1K | 87 || 4 | China | 4295 | 4168 | Feb/23 | BBL/D/1K | 127 || 5 | Iraq | 4200 | 4339 | Mar/23 | BBL/D/1K | -139 || 6 | Brazil | 3262 | 3274 | Feb/23 | BBL/D/1K | -12 || 7 | United Arab Emirates | 3041 | 3045 | Apr/23 | BBL/D/1K | -4 || 8 | Kuwait | 2676 | 2676 | Apr/23 | BBL/D/1K | 0 || 9 | Iran | 2630 | 2582 | Apr/23 | BBL/D/1K | 48 || 10 | Mexico | 1929 | 1934 | Feb/23 | BBL/D/1K | -5 || 11 | Kazakhstan | 1912 | 1935 | Feb/23 | BBL/D/1K | -23 || 12 | Norway | 1799 | 1790 | Feb/23 | BBL/D/1K | 9 || 13 | Qatar | 1322 | 1322 | Feb/23 | BBL/D/1K | 0 || 14 | Libya | 1135 | 1159 | Apr/23 | BBL/D/1K | -24 || 15 | Angola | 1063 | 972 | Apr/23 | BBL/D/1K | 91 || 16 | Oman | 1061 | 1065 | Feb/23 | BBL/D/1K | -4 || 17 | Algeria | 999 | 1008 | Apr/23 | BBL/D/1K | -9 || 18 | Nigeria | 999 | 1268 | Apr/23 | BBL/D/1K | -269 || 19 | Venezuela | 810 | 754 | Apr/23 | BBL/D/1K | 56 || 20 | United Kingdom | 800 | 667 | Feb/23 | BBL/D/1K | 133 || 21 | Average | 3437.71 | 3417.62 | | | 20.0952 |+----+----------------------+----------+------------+-------------+----------+--------------+
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