Texas is by far the largest oil-producing state in the United States. In 2024, Texas produced a total of over two billion barrels. In a distant second place is New Mexico, which produced 744.6 million barrels in the same year. Virginia is the smallest producing state in the country, at three thousand barrels. Macro perspective of U.S. oil production The U.S. oil production totaled some 19.4 million barrels of oil per day, or a total annual oil production of 827 million metric tons in 2023. As the largest oil producer in the U.S., it is not surprising that Texas is home to the most productive U.S. oil basin, the Permian. The Permian has routinely accounted for at least 50 percent of total onshore production. Regional distribution of U.S. oil production A total of 32 of the 50 U.S. states produce oil. There are five regional divisions for oil production in the U.S., known as the Petroleum Administration for Defense Districts (PADD). These five regional divisions of the allocation of fuels derived from petroleum products were established in the U.S. during the Second World War and they are still used today for data collection purposes. In line with the fact that Texas is by far the largest U.S. oil producing state, PADD 3 (Gulf Coast) is also the largest oil producing PADD, as it also includes the federal offshore region in the Gulf of Mexico. There are around 590 operational oil and gas rigs in the country as of February 2025.

Key information about United States Crude Oil: Production

• United States Crude Oil: Production was reported at 12,927.088 Barrel/Day th in Dec 2023
• This records an increase from the previous number of 11,910.573 Barrel/Day th for Dec 2022
• US Crude Oil: Production data is updated yearly, averaging 8,135.663 Barrel/Day th from Dec 1960 to 2023, with 64 observations
• The data reached an all-time high of 12,927.088 Barrel/Day th in 2023 and a record low of 4,999.727 Barrel/Day th in 2008
• US Crude Oil: Production data remains active status in CEIC and is reported by Organization of the Petroleum Exporting Countries
• The data is categorized under World Trend Plus’s Association: Energy Sector – Table RB.OPEC.CO: Crude Oil Production: Yearly

View monthly updates and historical trends for US Crude Oil Production. from United States. Source: Energy Information Administration. Track economic data…

The Permian basin is by far the most productive oil basin in the United States. Monthly production in the Permian peaked at nearly six million barrels per day in July 2023. This basin is also known as West Texas Basin, located in western Texas and southeastern New Mexico. Total daily production output in the U.S. climbed to over eight million barrels by late 2021.

View weekly updates and historical trends for US Crude Oil Field Production. from United States. Source: Energy Information Administration. Track economic…

In 2024, the United States consumed nearly ** million barrels of oil daily. In comparison to the previous year, figures decreased by around *** percent. Within the period of consideration, the figure peaked at **** million barrels of oil daily in 2005. The U.S. is the country with the highest oil consumption in the world. Domestic production U.S. oil production saw a noticeable growth after the Great Recession, as the energy industry developed extraction technologies to reduce the need to import high-priced oil. In 2021, domestic production amounted to **** million barrels per day, while figures in 2008 stood at *** million barrels per day. Texas is by far the leading crude oil producing state, with an annual production of *** billion barrels in 2024. New Mexico was the second largest producer, at a third of Texas’ production. American oil companies As of June 2025, ExxonMobil had the highest market capitalization of any oil and gas producer in the world. Chevron and ConocoPhillips were also among the top 10 oil and gas companies worldwide based on market value, ranking ****** and ******** respectively. ExxonMobil was founded in 1999, as a merger of Exxon and Mobil, formerly the Standard Oil Company of New Jersey and Standard Oil Company of New York, respectively. ExxonMobil is headquartered in Irving, Texas (although it has recently announced it will move its headquarters further South to its Houston campus) and generated an operating revenue of *** billion U.S. dollars in 2023. This figure represented an increase in comparison to 2021, when the company’s revenue dropped as a consequence of the coronavirus pandemic.

The oil production in federal lands of the United States recovered from the levels between 2011 and 2013, where around *** million barrels of oil were produced. By 2018, this figure increased to the highest value in a decade, reaching almost *** million barrels of oil.

The US oil and gas production index measures the change in annual crude oil and natural gas production in the continental United States. Data for both commodities is sourced from the Energy Information Administration, and crude oil production volume has been converted to the equivalent measurement of natural gas. The base year of the index is 2000.

This data release contains several datasets that provide an overview of oil and gas well history and production of the United States, from 1817 to September 1, 2022. Well history data is aggregated into 1-mile and 10-mile squares indicating the total number of wells and counts of wells classified as oil, gas, dry, injection, hydraulically fractured, and/or horizontal wells. Well history is also separated into layers binned on 1-year increments from a well's spud date (date drilling commenced). Production data is aggregated in 2-mile and 10-mile squares that sum the total production of oil, gas, and water volumes. Production data is also separated into layers binned on 1-year increments to reflect the year of production. These aggregations are compiled from data from IHS Markit, which is a proprietary, commercial database. No proprietary data is contained in this release. This data release was updated May 2023 to reflect an offset of 1 year on the original release.

View weekly updates and historical trends for Continental US Crude Oil Field Production. from United States. Source: Energy Information Administration. Tr…

The U.S. production of sunflower oil has fluctuated each year since 2004. During this period, production reached a peak in 2009, with approximately *** million pounds of sunflower oil produced. As of 2022, sunflower oil production was at about *** million pounds.

Forecast: Crude Oil and Condensate Production in the US 2022 - 2026 Discover more data with ReportLinker!

This dataset contains information about united states crude oil production for 1920-2021. Data from US Energy information administration.

In 2024, global crude oil production amounted to approximately ************ metric tons. This was the largest amount that had ever been produced, and nearly *********** metric tons more than oil produced in 1998. Which countries extract the most oil? The United States is the largest oil producing country in the world. Profiting off advances in horizontal drilling and shale extraction, the U.S. has succeeded OPEC-affiliated countries, such as Saudi Arabia, in becoming the world's greatest supplier of crude oil. Oil production in the United States The U.S. has been producing oil since 1850s. U.S. oil production initially decreased until 2008 but has been steadily increasing since. Texas is by far the U.S. state that produces the most crude oil. It is home to the Permian Basin and Eagle Ford shale play, two of the most important petroleum-rich locations in the country. The U.S. also operates numerous rigs located offshore in the Gulf of Mexico, which contribute significantly to overall oil and gas production.

Oil production in Latin America and the Caribbean has been continually increasing in the last couple of years, dipping to around *****million barrels per day in 2024. This represented an increase of nearly ****percent in comparison to the peak output of the decade registered in 2015. Brazil is the largest oil producer in Latin America, accounting for over ***percent of the region's output that year.

Forecast: Maize Oil Production in the US 2023 - 2027 Discover more data with ReportLinker!

Forecast: Oil Production in North America 2022 - 2026 Discover more data with ReportLinker!

Graph and download economic data for All Employees, Oil and Gas Extraction (CES1021100001) from Jan 1972 to Aug 2025 about logging, extraction, mining, oil, gas, establishment survey, employment, and USA.

As per Cognitive Market Research's latest published report, the Global Oil Exploration and Production market size is $3,588.98 Million in 2024 and it is forecasted to reach $5,116.57 Billion by 2031. Oil Exploration and Production Industry's Compound Annual Growth Rate was 5.20% from 2024 to 2031. Market Dynamics of the Oil Exploration and Production Market

Market Driver for the Oil Exploration and Production Market

The increasing investment in oil sector by several government bodies worldwide elevates the market growth 

Many countries view a stable and secure energy supply as crucial for their economic development and national security. Investing in the oil sector helps ensure a reliable source of energy. Oil exploration and production contribute significantly to the economic growth of a country. Governments often invest in the oil sector to capitalize on the potential for high returns, which can be used to fund public services, infrastructure projects, and other essential programs. Despite efforts to transition to renewable energy sources, the global demand for oil remains high. Governments recognize the need to meet this demand and ensure a stable energy supply to support industrial processes, transportation, and other key sectors. The oil and gas industry encompasses activities linked to exploration, including the search for hydrocarbons, identification of high-potential areas for oil and gas extraction, test drilling, the construction of wells, and initial extraction. According to the Center on Global Energy Policy, data 2023, the 2021–22 period of high oil and gas prices did not lead to a significant increase in capital spending by private companies despite record profits. One exception has been upstream exploration and production (E&P) companies, whose capital spending in 2022 was the highest since 2014.   According to the International Labor Organization (ILO), data 2022, the oil and gas industry makes a significant contribution to the global economy and to its growth and development worldwide. The oil industry alone accounts for almost 3 per cent of global domestic product. The trade in crude oil reached US$640 billion in 2020, making it one of the world’s most traded commodities. Additionally, the industry is highly capital-intensive. Globally investments in oil and gas supply reached more than US$511 billion in 2020. According to the oil and gas industry outlook, data 2023, rapid recovery in demand, and geopolitical developments have driven oil prices to 2014 highs and upstream cash flows to record levels. In 2022, the global upstream industry is projected to generate its highest-ever free cash flows of $1.4 trillion at an assumed average Brent oil price of $106/bbl. Until now, the industry has practiced capital discipline and focused on cash flow generation and pay-out—2022 year-to-date average O&G production is up by 4.5% over the same period last year, while 2022 free cash flows per barrel of production is projected to be higher by nearly 70% over 2021. In addition, high commodity prices and growing concerns over energy security are creating urgency for many to diversify supply and accelerate the energy transition. As a result, clean energy investment by Oil &Gas companies has risen by an average of 12% each year since 2020 and is expected to account for an estimated 5% of total Oil & Gas capex spending in 2022, up from less than 2% in 2020.Therefore, investments made over recent decades enabled the United States to become a world leader in oil and natural gas production. Thus, owing to increased oil production, the demand for oil exploration and production has surged during the past few years.

The rising demand for oil across both commercial and residential sector is expected to drive the market growth 

Oil remains a primary source of energy for transportation, including cars, trucks, ships, and airplanes. The growing global population, urbanization, and increased industrial activity contribute to a rise in the number of vehicles and the overall demand for transportation fuels derived from oil, such as gasoline and diesel. Many industrial processes rely on oil and its by-products as energy sources and raw materials. Industries such as manufacturing, petrochemicals, and construction utilize oil-based products for various applications, including heating, power generation, and the production of plasti...

The United States accounts for **** percent of global crude oil production, making it the largest oil producing country in the world. Crude oil production includes crude oil, shale oil, oil sand and NGLs (natural gas liquids: liquid content of natural gas in which the condensate is recovered separately). It excludes liquid fuels from other sources such as biomass and coal derivatives. Global crude oil supply Apart from the United States, Saudi Arabia and Russia are among the world’s largest producers of crude oil, each accounting for a share around ** percent. Saudi Arabia's oil production has amounted to roughly ********** barrels of oil per day for the past few years. Unsurprisingly, these countries are also some of the world’s largest oil consumers. Saudi Arabia consumes around ************ barrels per day, while the U.S. uses about ********** barrels. U.S. oil trade In the past, the U.S. relied heavily on oil imports from OPEC member countries like Saudi Arabia. However, due to an increase in domestic production output following technological advances, U.S. crude oil imports decreased by over one third since 2005. Conversely, U.S. petroleum exports skyrocketed, reaching ************ barrels per day in 2024.