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

OPEC accounts for over ** percent of the world’s total crude oil production. In 2024, OPEC's production showed a decrease of *** percentage points compared to the previous year, in part a result of Angola leaving the organization. That same year, the annual average OPEC reference basket price was ** U.S. dollars per barrel. OPEC stands for the Organization of the Petroleum Exporting Countries and was established in Iraq in 1960. Regional distribution OPEC includes 12 member countries located mostly in the Middle East and Africa, though also in South America. Over the past decade, roughly ******* of the world’s total oil production has come from the Middle East. Overall, global oil production has increased in almost every year except during times of economic crisis. OPEC has the highest global reserves share Although combined production has remained around the ** percent mark, the OPEC's share in global crude oil reserves was significantly higher. In 2023, it was ****** the worldwide production share. Similar to production, this figure has also remained relatively stable in the last decade.

Saudi Arabia is by far the leading producer of crude oil among OPEC member states. In 2024, it reported an average daily production of roughly **** million barrels. Iraq ranked second, at nearly **** million barrels daily. OPEC crude oil production totaled some ** million barrels per day that year. OPEC origin and global market share The Organization of the Petroleum Exporting Countries (OPEC) was founded in 1960, by Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela and later joined by current members: Algeria, Congo, Equatorial Guinea, Gabon, Libya, Nigeria, and United Arab Emirates. In 2024, the 12 OPEC members held roughly ** percent of total global crude oil production. Individual crudes within OPEC basket The main goal of OPEC is to coordinate petroleum policies among its members and to ensure stable prices for each product type, creating a reference system on the global oil market, facilitating the market for buyers and sellers. In 2024, the average annual OPEC crude oil price was around ** U.S. dollars per barrel. However, when looking at individual crudes in the OPEC reference basket, prices may show great discrepancies. For example, Algeria's Sahara Blend tends to be among the most expensive oils due to it being especially light and having a very low sulfur content.

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, crude oil production from OPEC countries amounted to roughly ** million barrels per day. Figures slightly increased that year. Between 1998 and 2024, figures increased by nearly **** million barrels of oil per day, peaking at **** million barrels per day in 2016.

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

Key information about Saudi Arabia Crude Oil: Production

• Saudi Arabia Crude Oil: Production was reported at 10,003.000 Barrel/Day th in Oct 2025
• This records an increase from the previous number of 9,960.000 Barrel/Day th for Sep 2025
• Saudi Arabia Crude Oil: Production data is updated monthly, averaging 30.878 Barrel/Day th from Jan 2002 to Oct 2025, with 286 observations
• The data reached an all-time high of 908.611 Barrel/Day th in Jul 2025 and a record low of 0.025 Barrel/Day th in Jan 1977
• Saudi Arabia 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: OPEC Members: Monthly

The 2025 annual OPEC basket price stood at ***** U.S. dollars per barrel as of August. This would be lower than the 2024 average, which amounted to ***** U.S. dollars. The abbreviation OPEC stands for Organization of the Petroleum Exporting Countries and includes Algeria, Angola, Congo, Equatorial Guinea, Gabon, Iraq, Iran, Kuwait, Libya, Nigeria, Saudi Arabia, Venezuela, and the United Arab Emirates. The aim of the OPEC is to coordinate the oil policies of its member states. It was founded in 1960 in Baghdad, Iraq. The OPEC Reference Basket The OPEC crude oil price is defined by the price of the so-called OPEC (Reference) basket. This basket is an average of prices of the various petroleum blends that are produced by the OPEC members. Some of these oil blends are, for example: Saharan Blend from Algeria, Basra Light from Iraq, Arab Light from Saudi Arabia, BCF 17 from Venezuela, et cetera. By increasing and decreasing its oil production, OPEC tries to keep the price between a given maxima and minima. Benchmark crude oil The OPEC basket is one of the most important benchmarks for crude oil prices worldwide. Other significant benchmarks are UK Brent, West Texas Intermediate (WTI), and Dubai Crude (Fateh). Because there are many types and grades of oil, such benchmarks are indispensable for referencing them on the global oil market. The 2025 fall in prices was the result of weakened demand outlooks exacerbated by extensive U.S. trade tariffs.

Key information about Iran Crude Oil: Production

• Iran Crude Oil: Production was reported at 3,209.000 Barrel/Day th in Oct 2025
• This records a decrease from the previous number of 3,275.000 Barrel/Day th for Sep 2025
• Iran Crude Oil: Production data is updated monthly, averaging 2,700.000 Barrel/Day th from Jan 2002 to Oct 2025, with 286 observations
• The data reached an all-time high of 3,987.000 Barrel/Day th in Jul 2005 and a record low of 1,930.000 Barrel/Day th in Jul 2020
• Iran 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: OPEC Members: Monthly

Key information about Iraq Crude Oil: Production

• Iraq Crude Oil: Production was reported at 4,098.000 Barrel/Day th in Oct 2025
• This records an increase from the previous number of 4,064.000 Barrel/Day th for Sep 2025
• Iraq Crude Oil: Production data is updated monthly, averaging 3,019.000 Barrel/Day th from Jan 2002 to Oct 2025, with 286 observations
• The data reached an all-time high of 4,781.000 Barrel/Day th in Aug 2019 and a record low of 143.000 Barrel/Day th in Apr 2003
• Iraq 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: OPEC Members: Monthly

U.S. Energy Information Administration October 2018 Monthly Energy Review

Note: Information about data precision.

Release Date: October 26, 2018 Next Update: November 20, 2018

Table 11.1a World Crude Oil Production: OPEC Members

monthly Average

Iran OPEC Production data, recent 29 years (traceable to Sep 01,1997), the unit is t/month, latest value is 3.37, updated at Oct 31,2025

In August 2025, the average price of the OPEC basket was 69.73 U.S. dollars per barrel. This was an increase compared to the previous month, which was among the lowest values in the past 24 months. The OPEC basket is a weighted average of prices for petroleum blends produced by OPEC countries. OPEC stands for “Organization of the Petroleum Exporting Countries” and was founded in 1960 in Baghdad, Iraq. The main aim of OPEC is to coordinate the oil policies of its members, and thus to have more influence on the international oil market. It is used as an important benchmark for crude oil prices. The OPEC basket oil price The OPEC crude oil price is defined by the price of the so-called OPEC (reference) basket. This basket is an average of the prices of petroleum blends that are produced by the OPEC members. The following countries are members of this organization: Algeria, Angola, Congo, Equatorial Guinea, Gabon, Iraq, Iran, Kuwait, Libya, Nigeria, Saudi Arabia, Venezuela, and the United Arab Emirates. Some of these oil blends are, for example, the Saharan Blend from Algeria, Basra Light from Iraq, and Arab Light from Saudi Arabia. The OPEC reference basket includes both heavy and light crude oils and is heavier than most other crudes. OPEC's oil production amounted to 32.8 million barrels per day in 2024. Oil price benchmarks The OPEC basket is one of the most crucial benchmarks for crude oil pricing worldwide. Other significant benchmarks are UK Brent, West Texas Intermediate (WTI), and Dubai Crude (Fateh). Because there are many types and grades of oil, such benchmarks are indispensable for referencing them on the global oil market. Looking at the OPEC price within the last two years, the highest price was some 94.6 U.S. dollars per barrel in September 2023.

View yearly updates and historical trends for Non-OPEC Oil Production. Source: Energy Institute. Track economic data with YCharts analytics.

The dataset contains the total monthly oil production by the OPEC countries (Algeria, Angola, Ecuador, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, UAE, Venezuela) across the years 1987 to 2025. The oil stock is in the units - Million Barrels per day (Mb/d) Source: US Energy Information Administration (https://www.eia.gov/)

OPEC's crude oil export revenue reached 550 billion U.S. dollars in 2024, a decrease from 2023. For 2025 figures are expected to fall below 500 billion U.S. dollars. OPEC stands for the Organization of Petroleum Exporting Countries and includes countries located in Africa, South America, the Middle East, and Southeast Asia. Currently, the organization has 12 member countries. OPEC share in world oil production The formation of OPEC marked a shift away from large multinational company market control to a primarily state-based control of natural resources. The supply restrictions that began in 1970 enabled a significant increase in oil prices and thus, OPEC’s revenues. OPEC's share of global oil production is approximately 36 percent. Saudi Arabia is one of the largest oil exporters among the OPEC. The country sells around six million barrels of oil per day overseas. OPEC basket price outlook OPEC crude oil production can strongly impact global oil prices, especially during periods of war or upheaval. Prices of oil are largely affected by basic supply and demand. As of the first half of 2025, the average annual OPEC basket price was around 72 U.S. dollars per barrel. Low oil prices in 2024 and 2025 were largely due to less oil demand growth in China and concerns over U.S. trade tariffs.

Key information about Syria Crude Oil: Production

• Syria Crude Oil: Production was reported at 32.112 Barrel/Day th in Dec 2022
• This records an increase from the previous number of 22.838 Barrel/Day th for Dec 2021
• Syria Crude Oil: Production data is updated yearly, averaging 1.532 Barrel/Day th from Dec 1960 to 2022, with 63 observations
• The data reached an all-time high of 13.643 Barrel/Day th in 1981 and a record low of 0.454 Barrel/Day th in 2004
• Syria 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 Turkmenistan Crude Oil: Production

• Turkmenistan Crude Oil: Production was reported at 162.575 Barrel/Day th in Dec 2019
• This records a decrease from the previous number of 166.953 Barrel/Day th for Dec 2018
• Turkmenistan Crude Oil: Production data is updated yearly, averaging 101.592 Barrel/Day th from Dec 1960 to 2019, with 60 observations
• The data reached an all-time high of 206.227 Barrel/Day th in 2015 and a record low of 26.300 Barrel/Day th in 1960
• Turkmenistan 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 Iran decreased to 3209 BBL/D/1K in October from 3275 BBL/D/1K in September of 2025. This dataset provides the latest reported value for - Iran Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The United States is expected to account for the largest share of oil production growth of non-OPEC countries in 2025. That year, the U.S. is forecast to add *** million barrels per day in oil supply. Guyana, a relatively new oil producer, is expected to see an increase of *** million barrels per day in oil production.