Visualizing the Rise of the U.S. as Top Crude Oil Producer
April 10, 2024
By Omri Wallach Article/Editing: Bruno Venditti Graphics/Design: Joyce Ma
Visualizing the Rise of the U.S. as Top Crude Oil Producer
Over the last decade, the United States has established itself as the world’s top producer of crude oil, surpassing Saudi Arabia and Russia.
This infographic illustrates the rise of the U.S. as the biggest oil producer, based on data from the U.S. Energy Information Administration (EIA).
U.S. Takes Lead in 2018
Over the last three decades, the United States, Saudi Arabia, and Russia have alternated as the top crude producers, but always by small margins.
During the 1990s, Saudi Arabia dominated crude production, taking advantage of its extensive oil reserves. The petroleum sector accounts for roughly 42% of the country’s GDP, 87% of its budget revenues, and 90% of export earnings.
However, during the 2000s, Russia surpassed Saudi Arabia in production during some years, following strategic investments in expanding its oil infrastructure. The majority of Russia’s oil goes to OECD Europe (60%), with around 20% going to China.
| Crude Oil Production | United States | Saudi Arabia | Russia |
|---|---|---|---|
| 1992 | 11.93% | 13.97% | 12.74% |
| 1993 | 11.50% | 13.68% | 11.35% |
| 1994 | 10.96% | 13.32% | 10.50% |
| 1995 | 10.60% | 13.17% | 9.96% |
| 1996 | 10.21% | 12.87% | 9.49% |
| 1997 | 9.84% | 12.73% | 9.29% |
| 1998 | 9.39% | 12.58% | 9.05% |
| 1999 | 9.06% | 11.99% | 9.33% |
| 2000 | 8.67% | 12.33% | 9.64% |
| 2001 | 8.65% | 11.89% | 10.45% |
| 2002 | 8.63% | 11.49% | 11.53% |
| 2003 | 8.05% | 12.92% | 12.10% |
| 2004 | 7.46% | 12.74% | 12.67% |
| 2005 | 7.00% | 13.21% | 12.82% |
| Crude Oil Production | United States | Saudi Arabia | Russia |
|---|---|---|---|
| 2006 | 6.85% | 13.00% | 12.90% |
| 2007 | 6.84% | 12.38% | 13.29% |
| 2008 | 6.71% | 12.44% | 12.56% |
| 2009 | 7.32% | 11.28% | 12.98% |
| 2010 | 7.37% | 11.31% | 13.03% |
| 2011 | 7.55% | 12.81% | 13.02% |
| 2012 | 8.50% | 13.04% | 12.94% |
| 2013 | 9.76% | 12.86% | 13.10% |
| 2014 | 11.18% | 12.60% | 12.86% |
| 2015 | 11.67% | 12.77% | 12.66% |
| 2016 | 10.92% | 13.12% | 13.02% |
| 2017 | 11.53% | 12.68% | 13.05% |
| 2018 | 13.21% | 12.77% | 12.96% |
| 2019 | 14.90% | 12.15% | 13.20% |
| 2020 | 14.87% | 12.37% | 12.97% |
| 2021 | 14.59% | 12.06% | 13.10% |
| 2022 | 14.73% | 13.17% | 12.76% |
Over the 2010s, the U.S. witnessed an increase in domestic production, much of it attributable to hydraulic fracturing, or “fracking,” in the shale formations ranging from Texas to North Dakota. It became the world’s largest oil producer in 2018, outproducing Russia and Saudi Arabia.
The U.S. accounted for 14.7% of crude oil production worldwide in 2022, compared to 13.1% for Saudi Arabia and 12.7% for Russia.
Despite leading petroleum production, the U.S. still trails seven countries in remaining proven reserves underground, with 55,251 million barrels.
Venezuela has the biggest reserves with 303,221 million barrels. Saudi Arabia, with 267,192 million barrels, occupies the second spot, while Russia is seventh with 80,000 million barrels.
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TORONTO, June 19, 2026 - VVC Exploration Corporation, dba VVC Resources ("VVC" or the "Company") (TSX-V: VVC and OTCQB: VVCVF) announces that Mr. Bruno Dumais resigned as a Director of the Company. The Board of Directors has accepted Mr. Dumais' resignation with regret, and thanks him for his valuable contributions and dedicated service to the Company. Jim Culver, CEO of VVC, commented: "On behalf of the Board and management, I would like to express our deep appreciation to Bruno for his commitment to VVC. We value the insight and guidance he has provided during his tenure and wish him continued success in his future endeavors." The position on the Board of Directors will be left vacant until a new candidate can be appointed to fill the vacancy. About VVC Resources VVC engages in the exploration, development, and management of natural resources - specializing in scarce and increasingly valuable materials needed to meet the growing, high-tech demands of industries such as manufacturing, technology, medicine, space travel, and the expanding green economy. Our portfolio includes a diverse set of multi-asset, high-growth projects, comprising: Helium & industrial gas production in western U.S.; Gold & associated metals operations in northern Mexico; and Strategic investments in carbon sequestration and other green energy technologies. VVC is a Canada-based, publicly-traded company on the TSXV (TSX-V:VVC). To learn more, visit our website at: www.vvcresources.com. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
TORONTO, May 21, 2026 - VVC Exploration Corporation, dba VVC Resources (“VVC” or the “Company”) (TSX-V: VVC and OTCQB: VVCVF) is providing an update to its previous news release dated May 16, 2026, regarding the status of its annual financial filings. The Ontario Securities Commission (the "OSC") has notified the Company that its application for a Management Cease Trade Order ("MCTO") has been rejected. In delivering its decision, the OSC noted that they are not of the view that there is an active, liquid market for the issuer’s securities, based on a review of the trade volume, trade value, and number of trades over the last month. Consequently, the OSC intends to issue a Failure-to-File Cease Trade Order ("FFCTO") against the Company shortly after the regulatory deadline if the continuous disclosure documents are not submitted. The Company's audited annual financial statements, management's discussion and analysis, and related officer certifications for the fiscal year ended January 31, 2026 (collectively, the "Required Filings") are due on June 1, 2026. Reason for Anticipated Delay The delay in completing VVC’s Required Filings is primarily attributable to the time required to complete the valuation and related accounting assessment of VVC’s equity investment in Cyber Apps Solutions Corp. (“CYRB”) and its operating subsidiary, Proton Green, LLC. The complexity of the valuation process and the resolution of related accounting matters delayed the commencement of VVC’s Required Filings. The Company also wishes to clarify that the references to executive management vacancies at CYRB included in the May 16, 2026 announcement were incorrect and have been retracted. Financing & Corporate Update In light of the operational adjustments required by the developments at CYRB, the Company also announces that it is actively pursuing capital-raising initiatives to protect working capital and fund ongoing operations, including its core helium and gold exploration assets. VVC is currently evaluating various financing options, which may include a proposed non-brokered private placement of securities. Any such financing remains subject to compliance with the strict terms of the proposed MCTO, which prohibits the issuance or acquisition of securities from any director, officer, or insider of VVC during the period of the default. Further details regarding the terms, pricing, and closing dates of any such financing will be announced if and when they are finalized. There can be no assurance that any financing will be completed on terms acceptable to the Company, or at all. Anticipated Completion and Impact of Order The Company and its independent third-party valuation specialist are working diligently to resolve the valuation framework with MNP LLP. VVC continues to target the completion and submission of the Required Filings on or before June 30, 2026. If an FFCTO is issued by the principal regulator, trading in the common shares of VVC will be suspended across all trading platforms in Canada, including the TSX Venture Exchange, until the Required Filings are completed and the order is formally revoked by the regulators. Insider Trading Restrictions The Company's internal insider trading blackout notice issued by the Corporate Secretary remains in full effect. All directors, officers, and insiders are strictly prohibited from trading in the Company's securities or exercising stock options until the default is fully remedied and the Required Filings are publicly available. About VVC Resources VVC engages in the exploration, development, and management of natural resources - specializing in scarce and increasingly valuable materials needed to meet the growing, high-tech demands of industries such as manufacturing, technology, medicine, space travel, and the expanding green economy. Our portfolio includes a diverse set of multi-asset, high-growth projects, comprising: Helium & industrial gas production in western U.S.; Gold & associated metals operations in northern Mexico; and Strategic investments in carbon sequestration and other green energy technologies. VVC is a Canada-based, publicly-traded company on the TSXV (TSX-V:VVC). To learn more, visit our website at: www.vvcresources.com. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
