Reuters | The Oil Powerhouses Replacing OPEC OilPrice.com Three countries currently account for close to 40 percent of global crude oil production and only one of these countries is a member of the Organization of Petroleum Exporting Countries. The three are Russia, the United States, and Saudi Arabia and as ... Oil investors still on edge, waiting on OPEC's word What Oil at $50 a Barrel Means for the World Economy Plunging oil prices create winners and losers in emerging markets |