FACT CHECK: BRICS Nations Do Not Control 80% Of Oil Production
A post shared on Facebook claims that the Brazil, Russia, India, China and South Africa (BRICS) bloc will control 80% of oil production.
BRICS does not control 80% of global oil production.
A Chinese maritime explorer ship is hunting for oil and gas in the South China Sea, according to the South China Morning Post. China, a member of BRICS, is feuding with countries such as the Philippines over the South China Sea, Time reported.
Social media users are claiming that BRICS “now controls 80% of global oil production” since the United Arab Emirates, Iran and Saudi Arabia are slated to join in January 2024.
This claim, however, is false. The BRICS nations do not control 80% of oil production. Data from the Energy Information Administration (EIA) shows that the United States is the biggest producer of oil, with over 21% of the global total in 2022. Canada and Kuwait, countries that are non-BRIC nations, make up another 9%, according to the EIA. Data from Statista states that the U.S. makes up 18.9% of crude oil production, while Canada makes up 5.9%, which means BRICS nations do not makeup 80% of global production.
BRICS nations produce 41% of global oil, which makes up less than 50% of oil production, according to the EIA. The Energy Institute shows that BRIC nations produce around 40.45 million barrels per day, which is about 43% of total global production. (RELATED: Has China’s Fentanyl Killed More Americans Than Three Wars Combined?)
Reuters also debunked this claim. Check Your Fact has fact-checked claims related to China, such as a recent claim from the country’s New York Consulate-General’s office claiming China did not interfere in the internal affairs of other countries.