BizVibe Announces Their List of Top 10 Oil Producing Countries in 2018

BizVibe,
a smart B2B networking platform for global B2B buyers and suppliers,
announced today their list of the top 10 oil producing countries in 2018.

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https://www.businesswire.com/news/home/20180712005809/en/

Top oil producing countries (Graphic: Business Wire)

BizVibe’s global B2B marketplace is the perfect digital community for
companies looking to simplify the tedious task of finding suppliers and
sourcing products. By signing up, you will not only get quotes quicker
but also generate better leads and discover hidden business
opportunities.

In a recent article titled Top
10 Oil Producing Countries in 2018, BizVibe compiles a list of
the top 10 countries that are currently dominating global oil
production. In the article, BizVibe reports that the global production
of oil totaled 92.65 million barrels per day (b/d) or a total 4,387
million tonnes in 2017, increasing 0.7% from the previous year, which
was one of the lowest production growth rates since 2013. However, the
top oil producing countries are expected to dominate the global market
going forward, despite facing great competition from new factors
including the rising trend of production barriers and the adoption of
alternative renewable energy. Here are few of the countries that made it
to the list of the top oil producing countries in the world.

10. Kuwait

Kuwait’s oil production currently stands out at 2.9 million b/d, and
with the growing competition in the Middle East, Kuwait is expected to
increase its production by 6 million b/d in coming years. The petroleum
industry in Kuwait is the largest industry in the country accounting for
over half of its GDP. Kuwait oil reserves are 4th largest in the world
with 9.5% of the global reserve.

9. Brazil

Brazil is the largest producer of crude oil in the whole South American
region. The production of oil in Brazil has increased by over 5% year
over year. With the rising demand in the international market, the
Brazilian government has now increased the imports of oil.

8. UAE

The UAE has one of the largest oil reserves in the world. The UAE
government has announced that they’ll increase the production of their
oil to 5 million b/d in coming years. The major oil reserves in the UAE
are in the regions of Abu Dhabi, Dubai, and Sharjah.

7. Iraq

Iraq has the world’s fifth largest petroleum reserve and it is currently
the world’s 7th largest petroleum producing nation. Iraq’s economy is
majorly depended on its oil production and imports. More than 90% of the
energy generated in the country is from petroleum products. Also, over
two-thirds of Iraq’s GDP is directly depended on oil production and its
imports.

6. Iran

Iran is one of the largest oil-producing countries in the Middle East
and second-largest oil exporter in the group of the organization of
petroleum exporting countries. Iran has significantly increased its oil
production capacity from 3.5 million b/d in 2004 to over 3.7 million b/d
in 2017.

Read the full list of Top
10 Oil Producing Countries in 2018 on BizVibe

Not only does BizVibe’s networking platform introduce businesses to
verified oil companies around the world, the intelligent B2B networking
platform also connects global trade professionals with over 7
million prospecting and sourcing candidates in over 700+ industries.
BizVibe cuts research time, allowing you to go after the real
opportunities.

BizVibe connects like-minded buyers and suppliers to help companies keep
up with the market demand. Join for free today to find your next big
opportunity in a community of leading oil companies around the world.

BizVibe’s New Networking Platform Helps You Find:

Leading oil companies on BizVibe

Increase your company’s exposure. Add
your company to the BizVibe network and instantly match with the top
exporters, suppliers, and buyers around the world.

Browse Articles Related to the Top Oil Producing Countries

Connecting on BizVibe

BizVibe has been specifically designed to help industry professionals
connect with like-minded businesses, providing them with a seamless,
efficient, and easy-to-use platform. Using cutting-edge technology and
advanced match-making algorithms, BizVibe has launched the smartest
networking platform on the planet, something that can truly help
companies find the right matches.

With extensive feedback from communities across multiple industries,
BizVibe was able to identify the core problems and uncertainties when
finding potential trade partners. Using this feedback, BizVibe developed
an efficient networking platform dedicated to buyers, sellers,
importers, exporters, manufacturers, and suppliers, helping thousands of
users to connect, engage, and make business deals daily.

About BizVibe

The single-minded focus of BizVibe’s platform is to make networking
easier. Over the years, we’ve searched far and wide to figure out how
businesses connect and enable trade. That first interaction is usually
fraught with the uncertainty of finding a potential partner vs. a
potential nightmare. With this in mind, we’ve designed a robust set of
tools to help companies generate leads, shortlist prospects, network
with businesses from around the world and trade seamlessly.

BizVibe is headquartered in Toronto and has offices in London,
Bangalore, and Beijing. For more information on the BizVibe network,
please contact
us.

View source version on businesswire.com: https://www.businesswire.com/news/home/20180712005809/en/

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