Oil production in the United States amounted to around 827.1 million metric tons in 2023, an increase when compared to the previous year and the highest figure recorded within the period of consideration. Between 1998 and 2023, figures increased by 459 million metric tons.

Global oil production amounted to 96.4 million barrels per day in 2023. The level of oil production reached an all-time high in 2023. However, the coronavirus pandemic and its impact on transportation fuel demand led to a notable decline in 2020. Rising production and consumption Apart from events surrounding global economic crisis as in the late 2000's and 2020, oil production consistently increased every year for the past two decades. Similarly, global oil consumption only decreased in 2008, 2009, and 2020, but has otherwise increased to a higher level year after year. Oil and oil products remain invaluable commodities as most transportation fuels are petroleum-based and oil is a major raw material for the chemicals industry. Production by region and country While total production is rising, regional distribution has shifted, with the share of production declining the most in Europe and the Commonwealth of Independent States (CIS) since 2008, and rising the most in North America. Even though as a region the Middle East still produces the largest share of oil worldwide, the United States is currently the worl'ds largest producer of oil, followed by Saudi Arabia and Russia.

Crude Oil Production in Russia increased to 9784 BBL/D/1K in November from 9730 BBL/D/1K in October of 2024. This dataset provides the latest reported value for - Russia Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Crude Oil Production in China increased to 4197 BBL/D/1K in November from 4184 BBL/D/1K in October of 2024. This dataset provides the latest reported value for - China Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

In 2023, global crude oil production amounted to approximately 4.5 billion metric tons. This was the largest amount that had ever been produced and nearly one billion 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 the 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.

In 2023, oil production in the United States reached 19.4 million barrels per day, the highest value within the period of consideration. The United States currently produces more oil than any other country in the world. Why has U.S. oil production increased? As U.S. oil production has more than doubled since the 2008 recession, imports of crude oil to the United States have decreased. An upsurge in foreign oil prices during the financial crisis, particularly from OPEC countries located mainly in the Middle East, motivated the U.S. energy industry to find ways to increase production domestically. Developments in extraction technology During the recession, investors took advantage of low-interest rates to develop costly oil extraction processes such as hydraulic fracturing. Also known as “fracking,” this extraction method made it possible to access shale oil deep underground that was once out of reach. Texas and New Mexico are major sites of shale reserves and have thus become the two largest oil-producing states in the country.

The article provides an overview of the world crude oil production by year, highlighting significant events and factors that have influenced global oil production. It explores the impact of geopolitical events, economic conditions, and technological advancements on the fluctuations in oil production over the years.

Crude Oil Production: Year to Date: Gansu data was reported at 12.536 Ton mn in Dec 2024. This records an increase from the previous number of 11.578 Ton mn for Nov 2024. Crude Oil Production: Year to Date: Gansu data is updated monthly, averaging 0.427 Ton mn from Dec 2002 (Median) to Dec 2024, with 241 observations. The data reached an all-time high of 12.536 Ton mn in Dec 2024 and a record low of 0.029 Ton mn in Jan 2009. Crude Oil Production: Year to Date: Gansu data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Energy Sector – Table CN.RBA: Energy Production: Crude Oil.

Crude Oil Production in Iraq decreased to 3677 BBL/D/1K in February from 3687 BBL/D/1K in January of 2025. This dataset provides the latest reported value for - Iraq Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Key information about Azerbaijan Crude Oil: Production

• Azerbaijan Crude Oil: Production was reported at 504.244 Barrel/Day th in Dec 2023
• This records a decrease from the previous number of 558.356 Barrel/Day th for Dec 2022
• Azerbaijan Crude Oil: Production data is updated yearly, averaging 247.052 Barrel/Day th from Dec 1960 to 2023, with 64 observations
• The data reached an all-time high of 1,014.088 Barrel/Day th in 2009 and a record low of 60.600 Barrel/Day th in 1960
• Azerbaijan 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

Crude Oil Production in Turkey increased to 110 BBL/D/1K in November from 105 BBL/D/1K in October of 2024. This dataset provides - Turkey Crude Oil Production - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Crude Oil Production: Year to Date: Guangdong data was reported at 20.681 Ton mn in Dec 2024. This records an increase from the previous number of 18.867 Ton mn for Nov 2024. Crude Oil Production: Year to Date: Guangdong data is updated monthly, averaging 8.190 Ton mn from Apr 2002 (Median) to Dec 2024, with 258 observations. The data reached an all-time high of 20.681 Ton mn in Dec 2024 and a record low of 0.971 Ton mn in Jan 2012. Crude Oil Production: Year to Date: Guangdong data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Energy Sector – Table CN.RBA: Energy Production: Crude Oil.

Crude Oil Production: Year to Date: Shandong data was reported at 22.200 Ton mn in Dec 2024. This records an increase from the previous number of 20.329 Ton mn for Nov 2024. Crude Oil Production: Year to Date: Shandong data is updated monthly, averaging 14.032 Ton mn from Apr 2002 (Median) to Dec 2024, with 258 observations. The data reached an all-time high of 28.296 Ton mn in Dec 2008 and a record low of 2.279 Ton mn in Jan 2015. Crude Oil Production: Year to Date: Shandong data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Energy Sector – Table CN.RBA: Energy Production: Crude Oil.

Production and reserves statistics for coal seam gas, condensate, crude oil, liquefied petroleum gas and natural gas.

Please note: Due to changes in the data collection and reporting standards the Department has altered the published reports format. The Petroleum and gas production reports are published in the new format from the period Dec 2014 till Dec 2021 (current) and the Petroleum and gas reserves reports are published in the new format for the calendar year 2020 and 2021 (current)

The reports released for data periods mentioned above have been updated to reflect the current reporting measure of units and data standards.

More information about these changes can be found here: Link

Historical data (pre-30 June 2016 Production and Pre 2020 Reserves) can be found here: Link

Crude Oil Production: Year to Date: Yunnan data was reported at 0.000 Ton mn in Dec 2024. This stayed constant from the previous number of 0.000 Ton mn for Nov 2024. Crude Oil Production: Year to Date: Yunnan data is updated monthly, averaging 0.000 Ton mn from Apr 2002 (Median) to Dec 2024, with 258 observations. The data reached an all-time high of 0.001 Ton mn in Dec 2005 and a record low of 0.000 Ton mn in Dec 2024. Crude Oil Production: Year to Date: Yunnan data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Energy Sector – Table CN.RBA: Energy Production: Crude Oil.

This dataset contains information about world's oil production for 1965-2020. Data from BP. Follow datasource.kapsarc.org for timely data to advance energy economics research.Notes:* Includes crude oil, shale oil, oil sands and NGLs (natural gas liquids - the liquid content of natural gas where this is recovered separately).** Excludes liquid fuels from other sources such as biomass and derivatives of coal and natural gas.*** Excludes Estonia, Latvia and Lithuania prior to 1985 and Slovenia prior to 1990.**** Annual changes and shares of total are calculated using million tonnes per annum figures.

Key information about Argentina Crude Oil: Production

• Argentina Crude Oil: Production was reported at 635.205 Barrel/Day th in Dec 2023
• This records an increase from the previous number of 582.230 Barrel/Day th for Dec 2022
• Argentina Crude Oil: Production data is updated yearly, averaging 491.356 Barrel/Day th from Dec 1960 to 2023, with 64 observations
• The data reached an all-time high of 846.934 Barrel/Day th in 1998 and a record low of 168.239 Barrel/Day th in 1960
• Argentina 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

Key information about Australia Crude Oil: Production

• Australia Crude Oil: Production was reported at 85.482 Barrel/Day th in Dec 2023
• This records a decrease from the previous number of 110.438 Barrel/Day th for Dec 2022
• Australia Crude Oil: Production data is updated yearly, averaging 341.312 Barrel/Day th from Dec 1960 to 2023, with 64 observations
• The data reached an all-time high of 593.757 Barrel/Day th in 2000 and a record low of 0.000 Barrel/Day th in 1963
• Australia 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

Learn about oil production per year, its significance as an energy source, and the factors that influence it. Explore global production levels, top oil-producing countries, and the role of OPEC. Understand how geopolitical tensions and market dynamics impact oil production and the potential future changes in demand.

Key information about Equatorial Guinea Crude Oil: Production

• Equatorial Guinea Crude Oil: Production was reported at 54.881 Barrel/Day th in Dec 2023
• This records a decrease from the previous number of 81.295 Barrel/Day th for Dec 2022
• Equatorial Guinea Crude Oil: Production data is updated yearly, averaging 0.000 Barrel/Day th from Dec 1960 to 2023, with 64 observations
• The data reached an all-time high of 328.690 Barrel/Day th in 2004 and a record low of 0.000 Barrel/Day th in 1993
• Equatorial Guinea 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