Ever since the 1950s, the world’s most industrialized nations have depended on one vital source of energy: oil. As the lifeblood of the modern era, its products have powered several industries and sectors and have contributed to numerous present and future innovations.
According to a 2016 data, global oil production ran a daily average of 80.6 million barrels on that year alone – and a dominant percentage of its producers mostly come from developed countries, including regions from Europe.
While Europe is the smallest oil-producing continent (in fact, it is dwarfed by the Middle East), three of its nations contribute to a massive volume of oil products in the world. Here they are.
- Russia (Approx. 540.7M tons annually)
Russia belongs to the ranks of the top oil producers in the world and it’s the largest in Europe. The massive oil production in the country mostly comes from the Eastern and Western Siberian region. Oil dominates the list of Russia’s commodities for export, selling almost 70% of its oil.
- Norway (Approx. 88M tons annually)
The Norwegian oil production’s operation started in the 1960s when it was first discovered in the country’s North Sea. Since then, Norway became the second largest oil producer in Europe, with oil becoming the nation’s top export commodity. Crude oil accounts for almost 40% of Norway’s total exports every year, while the petroleum industry covers 17% of the country’s GDP.
- United Kingdom (Approx. 45.3M tons annually)
As the third largest oil producer in the continent, the UK has also won its place as the 19th largest in the world. The country’s oil reserves were discovered in Scotland during the 19th century. As the production reached its peak, oil deposits in Derbyshire and Eakring were discovered a century later.