Top Oil Producing Countries in the World 2024
| Aspect | Details |
|---|---|
| Global Oil Production | 82.92 million barrels per day (2024) |
| Month-over-Month Change | 0.49% increase (from 82.52 million barrels) |
| Year-over-Year Change | 1.36% increase (from 81.81 million barrels) |
| Top Oil Producer | United States (21.91 million bpd) |
| Second Largest Producer | Russia (11.13 million bpd) |
| Third Largest Producer | Saudi Arabia (10.75 million bpd) |
| US Oil Production | 21.91 million bpd (2024), Texas leading state |
| US Oil Consumption | 20.5 million bpd (2023) |
| Russia's Oil Exports | Rebound to pre-war levels by April 2023, driven by China and India |
| **Saudi Arabia's Production Cut | Voluntary cut of 1 million bpd in mid-2023 and into Q1 2024 |
| Top 10 Oil Producing Countries (2024) | |
| 1 | United States (21.91 million bpd) |
| 2 | Russia (11.13 million bpd) |
| 3 | Saudi Arabia (10.75 million bpd) |
| 4 | Canada (5.79 million bpd) |
| 5 | Iraq (4.27 million bpd) |
| 6 | China (4.28 million bpd) |
| 7 | United Arab Emirates (3.3 million bpd) |
| 8 | Brazil (3.49 million bpd) |
| 9 | Iran (2.99 million bpd) |