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Top Oil Producers in the Middle East

The Middle East was responsible for producing nearly 27.9 million barrels of oil per day in 2014, about 30% of world production. The region includes four of the top eight oil-producing countries in the world and six of the top 14. 

1. Saudi Arabia

Saudi Arabia has ranked as the world's leading oil and gas producer  from 2003 to 2012, falling below the United States in recent years. Saudi Arabia however remains the world's largest petroleum exporter and continues to generate many job opportunities within the industry.

2. United Arab Emirates

The United Arab Emirates (UAE) consists of a federation of seven emirates, including Dubai and the capital of the federation, Abu Dhabi. Abu Dhabi itself is home to approximately 94% of proven oil reserves in the UAE territory. The UAE continues to be a major hub for oil and gas employment and recently has also increased its development into alternative energy markets.

3. Iran

In recent years Iran has been producing approximately 3 million barrels of oil daily. Prior to 2012, daily production was in excess of 4 million barrels. The recent production downturn can likely be connected with the effects of the International Economic Sanctions placed on Iran during this period. The U.S Energy Information Administration (EIA) believes that sanctions have had dramatic effects on investment within the upstream oil and gas industry. 

4. Iraq

Production rates in Iraq are fairly equal to Iran with a continued, gradual increase in overall production since 2005. The EIA suggests that Iraq has ambitious development plans to increase overall oil production to upwards of 9 million barrels a day. However the nation faces numerous challenges that could hinder this rate of growth through political instability, continued security threats and inadequate infrastructure.


5. Kuwait

Kuwait currently falls just below one of the top ten oil producers in the world. Kuwait has managed to maintain its overall production to around 2.5 million barrels for over ten years now. The EIA however suggests that Kuwait has been struggling to increase its overall production to 4 million barrels due to lack of overall foreign investment.

 

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