In petroleum industry parlance, production refers to the quantity of crude extracted from reserves, not the literal creation of the product.Hence “Saudi Arabia” is the world’s largest producer and exporter of petroleum and other liquids in 2012, producing an average of 11.6 million barrels per day (bbl/d) and exporting an estimated 8.6 million bbl/d (net).
H.P.Dubey
In petroleum industry parlance, production refers to the quantity of crude extracted from reserves, not the literal creation of the product.Hence “Saudi Arabia” is the world’s largest producer and exporter of petroleum and other liquids in 2012, producing an average of 11.6 million barrels per day (bbl/d) and exporting an estimated 8.6 million bbl/d (net).