Which countries produce the most oil?
Oil has long been at the heart of the global economy, powering industries, transportation networks, and households. From plastics to fuels and synthetic materials to clothing, oil is an essential part of everyday life. Oil production and consumption patterns shape national economies and influence geopolitics, environmental policies, and technological innovation. Using data from the 2025 Statistical Review of World Energy compiled by the Energy Institute, we explore the key players in crude oil production.
Global oil production in 2024
Oil production is a complex process involving petroleum exploration, extraction, refining, and distribution. Countries with abundant reserves, advanced infrastructure, and favorable geographic conditions have risen to dominate the global oil landscape. In 2024, 50 nations produced at least 19,000 barrels of oil daily. That year, global production reached 82 million barrels per day, a 0.1% decrease from the year before. Oil production has hovered around 80 million barrels per day for the past decade, with production levels slightly below that volume in 2020 and 2021 due to the global pandemic.
The top oil-producing countries
In 2024, the top five oil producers accounted for just over half of the oil produced that year, with the largest share coming from the United States. Since 2016, the United States has been the world's leading oil producer, thanks largely to the shale revolution and advances in hydraulic fracturing (fracking) technology. The U.S. states of Texas, New Mexico, and North Dakota are among the most productive regions. In 2024, the United States produced just over 13 million barrels of oil daily, representing around 16% of global output.
Following the United States is Russia. The oil industry is the cornerstone of Russia’s economy. Russia’s daily output averages 10 million barrels, a testament to its sophisticated infrastructure and strategic relevance. Russian companies like Rosneft and Lukoil boast massive reserves and ensure the country remains among the top oil producers globally.
Saudi Arabia, the linchpin of the Organization of the Petroleum Exporting Countries (OPEC), is renowned for its vast proven reserves and highly efficient extraction capabilities. Once the world leader, Saudi Arabia had the third-highest output in 2024 at 9.2 million barrels per day, representing 11.3% of global oil production. As the de facto leader of OPEC, Saudi Arabia can greatly influence global oil prices by setting the production quotas of OPEC members.
Canada ranks among the world's leading producers, largely due to its vast oil sands in Alberta. While extraction from oil sands is more complex and costly, Canadian output remains consistently high, producing an average of 5.1 million barrels per day in 2024. Over 80% of all oil produced in Canada is destined for foreign markets, with the United States being the largest importer. Canada has extensive pipeline networks integrated with the United States, making it easy to transport vast quantities of oil from key production areas in Alberta and Saskatchewan to various parts of the United States for refining. However, Canada’s lack of pipeline infrastructure to deliver oil to ports on the eastern and western coasts of the country limits its ability to get its oil to more markets. In the face of shifting US trade policy, Canada has indicated it is open to building new transnational pipelines to get oil to new global customers, representing a shift away from public and economic policies that opposed the construction of new pipelines.
Rounding out the top five is Iran with an average production of 4.3 million barrels of oil per day. Iran’s production capacity and abundant reserves make it a critical player in the global energy market.
Other major producers
China is both a major producer and consumer of oil. Its domestic production, largely from fields in the northeast and offshore, helps meet part of its enormous demand. Although China produces about 4 million barrels per day, it relies heavily on imports to satisfy its needs. Other countries with significant oil output include Iraq, the United Arab Emirates, Iran, Kuwait, and Brazil. Each of these nations plays a vital role in regional and global energy markets.
OPEC’s role in production
OPEC has 11 members, including Algeria, Congo, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, the United Arab Emirates, and Venezuela. It collectively controls a significant share of global oil reserves and production. In 2024, OPEC members accounted for more than one-third of the total oil produced globally. OPEC’s decisions on output quotas can drive global prices and supply dynamics, making it a central actor in energy geopolitics.
