Global oil production amounted to ************ barrels per day in 2024. The level of oil production reached an all-time high in 2024. 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.

View monthly updates and historical trends for World Crude Oil Production. Source: Energy Information Administration. Track economic data with YCharts ana…

This dataset contains information about world oil production for OPEC, OECD and the major non-OPEC producers. for 1983-2021. Data from Saudi Central Bank (SAMA). Follow datasource.kapsarc.org and it’s APIs to stay in sync and advance energy economics research.Note:* Including Condensates and Natural gas liquids

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.

In 2024, the majority of oil worldwide was produced in the Middle East, which accounted for around **** percent of the global output that year. Home to large hydrocarbon reserves, many of the world’s largest petrostates are located here. North America was the second largest oil producer, followed by the Commonwealth of Independent States. Global crude oil production In 2024, global oil production stood at almost ** million barrels per day. Amongst the various crude oil producing countries in the world, the United States came in first, accounting for nearly ** percent of global oil production in 2022. In comparison, Algeria was in the last position, accounting for only *** percent of the global oil production. Global oil companies Saudi Aramco, the state-owned petroleum and natural gas company in Saudi Arabia, is one of the top oil companies in terms of daily crude oil production, with a daily production volume of nearly **** million barrels per day. In contrast, Sinopec, a Chinese oil company, which largely focuses on refining, reported a daily production of ******* barrels. Due in part to its position as refining leader, Sinopec claimed the highest revenue among global oil and gas companies, reaching nearly *** billion U.S. dollars in 2023.

This dataset contains world oil database from 2002-2021. Data from Joint Organisations Data Initiative. Follow datasource.kapsarc.org for timely data to advance energy economics research.

Key information about United States Crude Oil: Production

• United States Crude Oil: Production was reported at 13,208.219 Barrel/Day th in Dec 2024
• This records an increase from the previous number of 12,934.556 Barrel/Day th for Dec 2023
• US Crude Oil: Production data is updated yearly, averaging 7,171.122 Barrel/Day th from Dec 1960 to 2024, with 65 observations
• The data reached an all-time high of 13,208.219 Barrel/Day th in 2024 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

Since the 1960s, the Middle East has been the global region that has produced the largest quantity of crude oil in most years, followed by North America, and then the Commonwealth of Independent States (most of the former-USSR). In the figures for annual output, there are notable fluctuations in output that coincide with major regional events, such as the Iranian Revolution in 1979, Soviet dissolution in 1991, or the boom in onshore shale oil drilling in the U.S. since 2010.

The average for 2023 based on 190 countries was 429.63 thousand Barrels Per Day. The highest value was in the USA: 12927.22 thousand Barrels Per Day and the lowest value was in Afghanistan: 0 thousand Barrels Per Day. The indicator is available from 1973 to 2023. Below is a chart for all countries where data are available.

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Oil generates revenue for countries with enough oil reserves to produce more oil than they consume. And for those economies that are heavily dependent on imports, oil expenditures must be factored into national budgets. Not surprisingly, events such as unrest in oil-producing regions, new oil field discoveries, and advances in extraction technology profoundly affect the oil industry. Most of the time, the top oil-producing countries in the world rake in a lot of profit from oil production.

• Despite continuing growth in renewable energy, oil production continues to play a key role in the global economy.
• The top producing nations (identified by the EIA) in 2022 were the U.S., Saudi Arabia, Russia, China, and Canada.
• The United States became the world's top petroleum liquids producer in 2013 and today is the world's top crude producer.
• China's production meets just over a third of its oil consumption. leaving it the world's largest petroleum importer.

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.

Top Countries' Share of Global Oil Production, 2016 Discover more data with ReportLinker!

Crude Oil Production in Russia increased to 9813 BBL/D/1K in July from 9783 BBL/D/1K in June of 2025. 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.

Global oil and gas production companies have gone through significant turbulence for most of the period. Revenue started off in a downturn amid the pandemic and its accompanying lockdowns, primarily the industry's largest market, the transportation sector, was limited. This was quickly reversed as the economy opened and supply outpaced demand, causing prices to skyrocket. High prices, accompanied by swelling production, led to surging revenue. This was further amplified by Russia's invasion of Ukraine, which forced many countries to put sanctions on Russia. With countries scrambling to find new suppliers, prices continued to shoot up in 2022. Nonetheless, prices eventually cooled back down later in the period, but still remained well above pre-pandemic levels. Overall revenue has pushed up at a CAGR of 11.7% to $4.0 trillion through the end of 2025, including a slight 7.3% dip in 2025 alone. Profit also surged as purchase costs came down. Emerging markets in BRIC nations, Southeast Asia and Africa continue to drive growth because of rapid industrialization and population increases, heightening the need for crude oil, natural gas and related downstream products. Even so, the gradual shift toward renewable energy poses challenges for producers, as many countries have implemented regulations and incentives to promote clean energy use. Geopolitical tensions and the uncertainties stemming from the global pandemic underscore the importance of diversifying supply sources to ensure energy security. Overall, industry revenue is set to push down at a CAGR of 2.5% to $3.6 trillion through the end of 2030. The bulk of this period will be highlighted by more efforts in oil and gas exploration and production in emerging markets, potentially transforming these regions into major global producers. Established countries will take this time to upgrade their technology and infrastructure to make production more efficient to keep profitability steady. Even so, the excess supply of oil and gas, combined with the push for sustainability, will drive prices down, leading to revenue contractions.

China Crude Oil Production data was reported at 209.026 Ton mn in 2023. This records an increase from the previous number of 204.722 Ton mn for 2022. China Crude Oil Production data is updated yearly, averaging 130.688 Ton mn from Dec 1949 (Median) to 2023, with 75 observations. The data reached an all-time high of 214.556 Ton mn in 2015 and a record low of 0.120 Ton mn in 1949. China Crude Oil Production data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under Global Database’s China – Table CN.RBA: Energy Production: Crude Oil.

Key information about Germany Crude Oil: Production

• Germany Crude Oil: Production was reported at 37.836 Barrel/Day th in Dec 2019
• This records a decrease from the previous number of 40.652 Barrel/Day th for Dec 2018
• Germany Crude Oil: Production data is updated yearly, averaging 80.403 Barrel/Day th from Dec 1960 to 2019, with 60 observations
• The data reached an all-time high of 170.097 Barrel/Day th in 1968 and a record low of 37.836 Barrel/Day th in 2019
• Germany 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 is a critical component of the global energy sector, and it plays a significant role in the overall economic development of countries around the world. Learn about the top crude oil producing countries, global production trends, and the role of OPEC in this article.

This dataset provides values for CRUDE OIL PRODUCTION reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

The average for 2023 based on 47 countries was 0.927 percent. The highest value was in Saudi Arabia: 11.924 percent and the lowest value was in Afghanistan: 0 percent. The indicator is available from 1973 to 2023. Below is a chart for all countries where data are available.

The Middle East produces more oil than any other region in the world, accounting for slightly less than ******* of global oil production in 2024, at **** percent. Overall, Middle Eastern oil production makes up a slightly larger share of global production than it did ten years ago, but the contribution to worldwide oil production has risen most consistently in North America while declining in all other regions. Shifts in North American oil production Over the past decade, higher oil production in North America has largely been driven by the United States. In the last ten years, oil production in the United States has more than doubled, with its annual output only mildly affected by the coronavirus pandemic. Meanwhile, Canada's crude oil production has also increased in the period, although in a less consistent manner. The U.S. moves towards less dependency Oil prices from OPEC countries, many of which are in the Middle East, had been rising in the years leading up to the global recession, reaching a peak in 2012. As a result, the United States decreased oil imports, and investors capitalized on lower interest rates to develop technologies such as hydraulic fracturing (fracking) that would allow domestic oil extraction from wells deep underground that were once too hard to reach. In 2019, before oil demand was affected by the pandemic, the North American country's imports dipped below *** million barrels, a ** percent drop in comparison to a decade earlier.