Which countries produce the most oil?

The United States was once again the world's leading oil producer in 2023. Our neighboring country is followed in the Ranking Saudi Arabia and Russia, which ranked second and third respectively, both with more than eleven million barrels a day.

Increase in production in the United States

The United States has not always been the largest producer of oil, but it has been one of the largest consumers and importers of so-called “black gold”. When the prices of this fossil fuel peaked during the 2008 economic recession, investors tried to develop new technologies to extract more oil in the country, mainly through hydraulic fracturing (Fracking). Since then, U.S. production has nearly doubled, reducing the need for imports.

The United States, also a leader in refining

Global crude oil refining capacity has continued to increase since 1970, and the United States also plays a key role in this field. It is not insignificant that it has the largest refining capacity in the world, almost 18 million barrels a day. If we take into account that around 100 million barrels are produced daily, this means that the North American country refines almost a fifth of the total.

What are the 10 most oil-producing countries?

1. United States: 18.60 million bpd (barrels of oil per day)

2. Saudi Arabia: 10.82 million bpd

3. Russia: 10.50 million bpd

4. Canada: 5.26 million bpd

5. China: 4.93 million bpd

6. Iraq: 4.16 million bpd

7. United Arab Emirates (UAE): 3.79 million bpd

8. Brazil: 3.79 million bpd

9. Iran: 3.01 million bpd

10. Kuwait: 2.75 million bpd

Where is Mexico located?

Mexico is in the honorable 11th place, with 1.93 million bpd, only 700,000 behind Kuwait, approximately.

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