The United States has overtaken Saudi Arabia as the world’s biggest oil producer in 2014. The US produced 15.9 per cent more oil in 2014 at 11.6 million barrels of oil per day to topple Saudi Arabia’s 11.5 million bpd production. Perhaps this is why America is now seeing an influx of many different companies looking to go into the oil sector. As one simple example, take for instance this Paramus, NJ delivery company that offers fuel delivery services across the States. Then, Russia with 10.8 million bpd oil production was placed third.

The US surpassed Russia as the world’s largest producer of oil and gas, producing 1,250.4 million tons of oil and oil equivalent natural gas in 2014. This compared with Russia’s 1,062 million tons of oil equivalent.BP said the US shale revolution helped it overtake “Saudi Arabia as the world’s biggest oil producer and surpass Russia as the world’s largest producer of oil and gas.” Chinese growth in consumption slowed to its lowest level since 1998 as its economy rebalances away from energy intensive sectors, though China remained the world’s largest growth market for energy.

India, however, posted a 7.1% rise in energy consumption, the fastest among major economies and second only to Algeria’s 8.4% expansion. It consumed 637.8 million tons of oil and oil equivalent natural gas, coal, nuclear energy, hydro electricity and renewable energy.

Though India is heavily dependent on imports to meet its oil needs, it is self-sufficient in refining capacity, housing a total capacity of 4.3 million bpd, fourth largest in the world behind the US (17.79 million bpd), China (14.09 million bpd) and Russia (6.3 million bpd).