The global oil industry remains a cornerstone of energy supply and economic power. Here are the world's top oil-producing nations ranked by daily output in thousands of barrels (2024 data).
Top 10 Oil-Producing Countries (Thousand
Barrels Daily)
|
Rank |
Country/Region |
Daily
Production |
% of Global
Supply |
Key Features |
|
1 |
United States |
19,400 |
20% |
Shale boom, largest producer
since 2018 |
|
2 |
Saudi Arabia |
11,000 |
11% |
OPEC leader, lowest
extraction costs |
|
3 |
Russia |
10,900 |
10.8% |
Sanctions-resistant
production |
|
4 |
Canada |
5,600 |
5.6% |
Oil sands deposits |
|
5 |
Iraq |
4,600 |
4.6% |
OPEC's second-largest
producer |
|
6 |
China |
4,300 |
4.3% |
World's largest oil importer |
|
7 |
United Arab Emirates |
3,800 |
3.8% |
ADNOC's advanced
infrastructure |
|
8 |
Brazil |
3,600 |
3.6% |
Deepwater pre-salt fields |
|
9 |
Iran |
3,500 |
3.5% |
Sanctioned but resilient
output |
|
10 |
Kuwait |
2,800 |
2.8% |
OPEC founding member |
Other Countries | 26,500 | 26.5% | (Includes
Nigeria, Norway, Kazakhstan, etc.)
Key Industry Insights
1. The Shale Revolution
·
The U.S. leads production (19.4M
bpd) through fracking technology
·
Permian Basin (Texas/New Mexico) alone produces 5.8M bpd
2. OPEC+ Dominance
·
Saudi Arabia, Russia and allies control 40% of global
supply
·
Recent production cuts aim to stabilize oil
prices
3. Emerging Producers
·
Guyana (ExxonMobil operations) will enter
top 20 by 2025
·
Brazil's pre-salt fields could
double output by 2030
Future Outlook
🔹 Energy
Transition: Renewables may
reduce oil's 31% energy share by 2030
🔹 Geopolitics: Middle East tensions and Russia
sanctions reshape trade flows
🔹 Technology: AI and automation are cutting
extraction costs by 15-20%
Data Source: IEA, OPEC Monthly Reports (2024)
