Top Oil Producing Countries In The World
Crude oil generates good revenue for countries with high oil reserves to produce more than its domestic consumption.
According to the most recent data collected by the Energy Information Administration (EIA), total oil production averaged more than 90 million barrels per day (b/d) in 2019/2020.
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In 2018, the United States exceeded Russia and Saudi Arabia to become to world’s largest producer of crude oil as of the year 2020.
The top crude oil producers in the United States are Alaska, Texas, North Dakota, New Mexico, and Oklahoma.
Top 20 Oil Producing Countries In The World
- United States
- Russia
- Saudi Arabia
- Iraq
- Canada
- China
- United Arab Emirates
- Kuwait
- Brazil
- Iran
- Nigeria
- Mexico
- Kazakhstan
- Qatar
- Norway
- Angola
- United Kingdom
- Libya
- Algeria
- Oman
Largest Oil Producer In The World
The United States is the largest crude oil producer in the world in 2020, producing more than 12,108 per day.
Top 10 Most Developed Countries in the World
Biggest Oil Producers
Here are the lists of the biggest oil producers, according to the most recent data collected by the Energy Information Administration (EIA). This list is being calculated based on the numbers of barrels of crude produced per day
1) United States
The United States is the top producer of crude oil, generating about 12,108,000 barrels of crude oil per day.
As of 2012, The United States overtook Russia on the second spot as the top oil producers in the world; The United States accounts for almost 18% of the world’s oil production.
2) Russia
Russia is the second on the list of surpassing Sudi Arabia, which was Ahead a year back.
Russia produces up to 10,835 barrels of crude oil per day, which is slightly ahead of its competitor Saudi Arabia.
3) Saudi Arabia
In the year 2013, Saudi Arabia was the top Oil producer in the world before the United States became first. Saudi Arabia is the only member of the Organization of the Petroleum Exporting Countries (OPEC) to make the biggest oil producers in the world lists, according to Investopedia.
4) Iraq
In previous records, Iraq was now to be found amongst the top 5 crude oil producers in the world, but in this current list, Iraq is the number four top oil-producing country in the world, producing about 4620.
5) Canada
Canada holds the fifth spot among the world’s leading oil producers, with an average crude oil production of 4,129 barrels per day.
According to the EIA International Energy Outlook 2019, Canada’s production could double by 2050, rising 126%, topping growth from any of the other non-OPEC countries.
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6) China
China produced an average of 4.82 million barrels of oil in 2018, which accounts for 5% of the world’s production. China is a net importer of oil, as the country consumed an average of 12.79 million barrels last in 2019.