Top 10 Largest Oil Producing Countries in the World 2024: Oil is a priceless natural resource that powers economies and influences geopolitics worldwide.
In recent years, the global oil market has been impacted significantly by COVID-19 disruptions, price wars between oil-producing nations, and Russia’s war in Ukraine.
Oil is like a super useful thing that can do lots of stuff. The transportation gang uses Most of it, like cars and planes.
They use more than a third of all the oil in the world. Global oil production has continued to rise over the years. Here’s a look at the world’s top 10 largest oil-producing countries in 2024.
Largest Oil Producing Countries in the World 2024 List
The largest Oil Producing Countries in the World 2024 in the world are the United States, Saudi Arabia, Russia, Canada, Iraq, China, Brazil, the UAE, Iran, and Kuwait.
The USA is on top of oil-making, making a whopping 12,900,000 barrels every day. After the U.S.
it’s Saudi Arabia and Russia doing their thing, making 3,250,000 and 3,140,000 barrels every day, respectively.
This article will provide you insights into the top 10 largest oil producing countries in the World 2024 that play a pivotal role in shaping the global energy landscape.
| Country | Million barrels per day |
| United States | 12.9 M |
| Saudi Arabia | 10.5 M |
| Russia | 10.2 M |
| Canada | 4.7 M |
| Iraq | 4.3 M |
| China | 4M |
| United Arab Emirates | 3M |
| Brazil | 2.9M |
| Kuwait | 2.6 M |
| Iran | 2.5 M |
#1 United States
The United States is like the superhero of oil production, making a huge 12,900,000 barrels every day. That’s almost one-fifth of all the oil in the whole wide world.
The oil production is seen in Majorly, around three-fourths of the oil production in the U.S. is concentrated in five states: Texas, New Mexico, North Dakota, Alaska, and Colorado.
Texas leads the way as the biggest oil-producing state in the nation, with output nearly four times as high as the second biggest oil-producing state, New Mexico. In addition to being a major oil producer, the US is a big consumer of oil. And it is the Largest Oil Producing Countries in the World 2024
#2 Saudi Arabia
Saudi Arabia takes the Second position in oil production, standing as the second-largest oil producer globally.
As the heavyweight within OPEC, contributing around 13% of the world’s oil, the kingdom boasts extensive reserves and a robust extraction infrastructure.
Renowned for strategic influence, Saudi Arabia plays a vital role in shaping global energy dynamics. Its ability to sway oil prices and stabilize worldwide supply emphasizes its crucial position in the international energy market.
With a wealth of hidden oil treasures, Saudi Arabia not only secures its spot as a major oil player but also acts as a guardian ensuring a steady global oil flow. And it is the Largest Oil Producing Countries in the World 2024
#3 Russia
Russia is like a big shot in the oil world, making about 10% of all the oil in the world.
Most of their oil treasures are hiding in West Siberia, between the Ural Mountains and the Central Siberian Plateau, and in the Urals-Volga region, stretching to the Caspian Sea.
Russia has both regular and super-special oil, and they use their huge land to make a lot of it.
Before they decided to make a bit less in 2020, they were on a roll, pumping out 10,938,000 barrels every day in 2022. But then, because of some issues in Ukraine, some countries said no to Russian oil. It is the Largest Oil Producing Country in the World 2024
#4 Canada
Canada is like the oil wizard, thanks to its special resource called oil sands, making up a whopping 97% of its oil reserves.
Even though getting this oil has some environmental challenges, it’s like gold for Canada’s economy. In 2022, they cranked out 5,694,000 barrels every day, a jump from the previous year.
Almost all of Canada’s oil magic happens in Alberta, with 97% of the reserves being oil sands.
They mainly send their energy goodies to the U.S., but now they’re thinking about making new friends in Asia.
There’s also been a big talk about pipelines in Canada, with the government buying one to make sure their oil reaches ports. But, oops, the cost estimate went way up in 2023 to a whopping C$30.9 billion. And it is the Largest Oil Producing Country in the World 2024
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#5 Iraq
Iraq is like the oil superstar in the Middle East, having a ton of oil hidden underground. Even though they have some tricky situations, they’re always working on making more oil and teaming up with friends from other countries.
In 2018, they had a little setback, but they bounced back and secured their spot as the sixth-biggest oil maker.
Lately, their oil production took a bit of a dip, going from 4,788,000 barrels a day in 2019 to 4,149,000 in 2021. Iraq didn’t stay down for long.
In 2022, they pumped up their oil game by 404,000 barrels a day, reaching a total of 4,553,000. they’re holding the world’s fifth-largest treasure trove of oil, with a massive 145 billion barrels waiting to be used. It is the Largest Oil Producing Country in the World 2024
#6 China
China is like the big oil shopper of the world, buying more oil than anyone else. China’s domestic production has also surged in recent years. they’re not just buying; they’re making a lot of oil too
Even though they import a lot, they’ve also become a big shot at making their oil. Back in 2014,
they went from being the second-largest oil importer to the very top Being the most crowded country with a booming economy,
China uses a ton of energy, especially oil. More than half of their oil comes from a group called OPEC, which is like the oil club.
COVID-19 slowed down their oil-making machines for a bit, but by May 2023, China was back in action, making 15.4% more oil than the year before. In current they make 4.7 Million barrels per day. It is the Largest Oil Producing Country in the World 2024
#7 United Arab Emirates
The UAE is an OPEC member and a major player in the global oil market. The country accounts for 5.6 percent of global total reserves, particularly in the emirate of Abu Dhabi.
In 2022, they cranked up their oil game, making a whopping 451,000 more barrels every day compared to the year before, reaching a total of 4,237,000 barrels.
The UAE is like the oil superhero, holding the eighth-largest oil treasure in the world a massive 98 billion barrels. In recent the production of oil in UAE is 3 Million barrels per day. And it is the Largest Oil Producing Country in the World 2024
#8 Brazil
Brazil is like the rising star in the world of oil-making, all thanks to its special offshore places called pre-salt reserves.
As per the U.S. Energy Information Administration, total primary energy consumption in Brazil has nearly doubled in the past ten years due to sustained economic growth.
Investments in advanced drilling technologies have enabled Brazil to unlock vast resources, positioning itself as a major player in the global oil market. Brazil’s oil production rose slightly from 3,689,000 bpd in 2021 to 3,803,000 bpd in 2022.
According to the EIA, total primary energy consumption in Brazil has nearly doubled in the past decade due to sustained economic growth.
The largest share of Brazil’s total energy consumption is oil and other liquid fuels, followed by hydroelectricity and natural gas. In current the oil production of Brazil is about 2.9 Million barrels per day.
#9 Kuwait
Kuwait is like the cool closer in the top 10 oil-making team. It’s got some big oil treasures, and it’s a key player in a group called OPEC, which is like the oil club.
Oil and gas are like the VIPs in Kuwait, making up a huge part of the country’s money 60% of everything they make. In 2021, they had a bit of a dip in making oil, reaching 2,717,000 barrels every day.
They bounced back in 2022, almost reaching their 2018 levels at 3,059,000 barrels a day. Kuwait is not just about making oil.
They’re also into doing it in a cool and sustainable way, thinking about the future, But in recent times the oil production in Kuwait is about 2.6 Million barrels per day. And it will be the Largest Oil Producing Country in the World 2024
#10 Iran
Iran is a big deal in the oil world, even with challenges like sanctions and disputes. In 2021, they got a friend in China, signing a long-term deal and asking the U.S. to ease up on the sanctions.
Iran has lots of regular oil treasures and a perfect spot for moving oil around.
Iran’s oil production had a rollercoaster ride, jumping from 2,990,000 barrels in 2020 to 3,661,000 barrels in 2022.
Even though Iran has crazy amounts of oil hidden underground, making as much as 4,779,000 barrels in 2017,
they’ve faced hurdles like U.S. sanctions and regional troubles. In 2021, China stepped in as a buddy, signing a long-term deal and asking the U.S. to ease up on the sanctions.
Despite the challenges, Iran still manages to sell oil to China at a good deal. But in recent times the oil production in Iran is about 2.5 Million barrels per day. And it is the Largest Oil Producing Country in the World 2024
Conclusion:
The “Top 10 Largest Oil Producing Countries in the World 2024” highlights the powerhouse nations in global oil production.
The United States leads the pack, followed by Saudi Arabia, Russia, and others. Each country’s unique contributions, challenges, and strategic significance shape the dynamic energy landscape.
Despite facing hurdles like sanctions and disputes, these nations play pivotal roles, in ensuring a steady global oil supply. The article provides a comprehensive overview of their production, emphasizing their influence in the ever-evolving world of energy.
