The United States produced the most oil in the world in 2023, at around 19.4 million barrels of oil per day on average. Saudi Arabia and Russia followed as the second and third largest producers, and also rank amongst the top countries with highest oil exports.
OPEC production share
Many of the top oil-producing countries belong to the Organization of the Petroleum Exporting Countries, also known as OPEC. The group was founded in 1960 by five original members: Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela. As of 2021, 15 nations belong to OPEC, and the organization holds powerful influence on the prices of oil, with some 37 percent of the total global share of crude oil production coming from OPEC.
Increased production in the United States
The United States was not always the largest producer of oil, but imported oil at higher rates before the 2008 financial crisis. As foreign oil prices peaked during the Recession, investors sought to develop technology to extract more oil domestically, notably through hydraulic fracturing. Since then, oil production in the United States has nearly doubled, reducing the need for imports.
Leading oil-producing countries worldwide in 2023
(in 1,000 barrels per day)
This report was previously published by BP.
Includes crude oil, shale oil, oil sands, condensates (lease condensate or gas condensates that require further refining) and NGLs (natural gas liquids â ethane, LPG and naphtha separated from the production of natural gas). Excludes liquid fuels from other sources such as biofuels and synthetic derivatives of coal and natural gas. This also excludes liquid fuel adjustment factors such as refinery processing gain, as well as oil shales/kerogen extracted in solid form.
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Energy Institute. (June 20, 2024). Leading oil-producing countries worldwide in 2023 (in 1,000 barrels per day) [Graph]. In Statista. Retrieved November 28, 2024, from https://www.statista.com/statistics/237115/oil-production-in-the-top-fifteen-countries-in-barrels-per-day/
Energy Institute. "Leading oil-producing countries worldwide in 2023 (in 1,000 barrels per day)." Chart. June 20, 2024. Statista. Accessed November 28, 2024. https://www.statista.com/statistics/237115/oil-production-in-the-top-fifteen-countries-in-barrels-per-day/
Energy Institute. (2024). Leading oil-producing countries worldwide in 2023 (in 1,000 barrels per day). Statista. Statista Inc.. Accessed: November 28, 2024. https://www.statista.com/statistics/237115/oil-production-in-the-top-fifteen-countries-in-barrels-per-day/
Energy Institute. "Leading Oil-producing Countries Worldwide in 2023 (in 1,000 Barrels per Day)." Statista, Statista Inc., 20 Jun 2024, https://www.statista.com/statistics/237115/oil-production-in-the-top-fifteen-countries-in-barrels-per-day/
Energy Institute, Leading oil-producing countries worldwide in 2023 (in 1,000 barrels per day) Statista, https://www.statista.com/statistics/237115/oil-production-in-the-top-fifteen-countries-in-barrels-per-day/ (last visited November 28, 2024)
Leading oil-producing countries worldwide in 2023 (in 1,000 barrels per day) [Graph], Energy Institute, June 20, 2024. [Online]. Available: https://www.statista.com/statistics/237115/oil-production-in-the-top-fifteen-countries-in-barrels-per-day/
