Oil Production by Country 2024

Crude oil production is defined as the quantity of crude oil (measured in barrels) that a country's oil industry has extracted from the ground and filtered for inert matter or impurities within a given time frame. Crude oil consists of a mixture of hydrocarbons of natural origin (typically decayed prehistoric plant matter). Its physical properties can vary widely, ranging from yellow to black in color and displaying a broad range of densities and viscosities. The largest share of crude oil is used to make gasoline, jet fuel, diesel, and heating oils—which makes crude oil arguably the most vital natural resource in the modern world. Heavier oil products are used to make asphalt for roads and lubricating oils such as petroleum jelly for soaps and detergents.

Top 10 Countries with the Highest Oil Production (barrels per day)

In 2018, the United States surpassed Russia and Saudi Arabia to become the world’s largest crude oil producer, despite the fact that several countries have larger total oil reserves. The main producers of oil in the United States are Texas, federally owned offshore facilities, New Mexico, and North Dakota. Alaska, Colorado, Wyoming, and California are also major contributors. In addition to being the world's leading producer of oil, the U.S. is also the world's largest consumer of oil. In light of this, the U.S. imports additional oil from several additional oil-producing countries.