Leading Oil Producers by Country 2024 (Top 100)

The year 2024 was a pivotal year for the global oil industry. The major producers kept their strong positions, while new oil-producing countries faced challenges shaped by politics and the economy. Data based on the U.S. Energy Information Administration show that global oil production remained strong, despite OPEC+ production limits and issues in older oil fields.

United States

American oil production hit new records in 2024, staying firmly at the top. The country’s success is rooted in advanced technology and substantial investment. Texas and New Mexico are oil hotspots, especially in the Permian Basin. Overall, output keeps climbing because U.S. companies adapt quickly to market changes.

• Produced about 13.2 million barrels per day—the world’s highest.​
• Texas and New Mexico together produced 7.7 million barrels per day.
• The Permian Basin alone provided the most significant boost in output.
• Production costs are low in key regions ($62–$64/bbl).
• The U.S. broke a monthly record in August 2024, reaching 13.4 million barrels per day.

Saudi Arabia

Saudi Arabia carefully controls oil supply to balance global prices. The country has significant reserves and can quickly adjust its oil production. Costs are among the lowest in the world, so it remains profitable even when prices drop. Primarily, it exports oil worldwide through powerful state-owned companies.

• Produced around 10.8 million barrels per day in 2024.
• Holds over 267 billion barrels in reserves.
• The lifting cost is about $10 per barrel.
• Can ramp up to nearly 13 million barrels per day if needed.
• Exports made up 15% of global seaborne oil in 2024.

Russia

Russia continued strong oil production despite facing tough sanctions and export challenges. Most exports now go to Asia, especially China and India. Russian companies adapted with creative shipping and pricing to keep the business running. Costs are low, and quick changes help keep profits up.

• Produced about 10.7 million barrels per day.
• Kept revenues up by shifting exports to Asia.
• Uses a “shadow fleet” to bypass Western sanctions.
• Production costs average around $15 per barrel.
• Monthly exports reached EUR 652 million/day in December 2024.

Canada

Canada boosted its oil output with new pipelines and innovative use of oil sands. Alberta leads in production, and pipeline expansions allow more exports. Western Canadian Select prices improved compared to U.S. benchmarks, benefiting local companies. Production numbers went up sharply in 2024.

• Produced around 5.5 million barrels per day.
• Alberta is the central oil-producing province.
• Oil sands could reach 3.7 million barrels per day by 2030.
• The Trans Mountain pipeline increased export capacity to 890,000 barrels/day.
• More than 60% of U.S. imports now come from Canada.

China

China set a record for domestic oil production, defying predictions of decline. Despite producing more, China still imports a lot of oil because demand is massive. Major state-run companies invest in new technology to squeeze out more from old fields. The government’s strategy keeps the country energy-secure.

• Produced around 4.3 million barrels per day.
• Imports about 11 million barrels per day, a slight decrease from years earlier.
• State firms —CNPC, Sinopec, and CNOOC — drive most of the growth.
• Refineries processed 14.2 million barrels/day in 2024.
• China aims for stable production above 4 million barrels/day in 2025.

Iraq

Iraq maintained strong oil output but faces export challenges due to pipeline closures. The oil sector is the spine of the economy, generating most government revenue. Expansion plans are in place, but regional difficulties remain. Iraq is a reliable supplier in the Middle East, with rich reserves.

• Produced about 4.4 million barrels per day.
• Holds about 145 billion barrels in reserves.
• Exports mainly from Basra and southern terminals.
• Oil revenues account for 90% of government income.
• Expected to reach 7 million barrels per day capacity by 2029.

Iran

Iran increased oil production using innovative tactics to overcome sanctions. Most oil goes to China, often at discounted prices. Iranian oil’s journey relies on hidden tankers and creative deals. Large reserves support high output despite global restrictions.

• Produced approx. 3.2 million barrels per day.
• Exported 1.5–1.7 million barrels/day, triple from sanction lows.
• China buys about 90% of Iran’s exported oil.
• Oil makes up 57% of Iran’s export revenue ($43 billion in 2024).
• Reserves: about 157 billion barrels (4th largest in the world).

United Arab Emirates (UAE)

Oil remains crucial for the UAE’s economy, with steady plans for future growth. Output numbers vary because the measurement includes other liquids. Abu Dhabi leads, investing in capacity and innovative technology. The oil sector funds a mix of old and new economic projects.

• Produced roughly 2.9–3.5 million barrels per day.
• State company ADNOC’s capacity is 4.85 million barrels/day.
• Oil makes up 44% of Abu Dhabi’s GDP.
• Production often exceeds the OPEC quota.
• Strong infrastructure for the export of oil and condensates.

Brazil

Brazil’s deepwater drilling pushes oil production from beneath a thick salt layer. This “pre-salt” technology is cutting emissions and adding new supply. Brazil jumped ahead in exports, beating soybeans for the first time. State-owned Petrobras runs most of the production and plans new growth.

• Produced about 3.6 million barrels per day.
• Pre-salt accounted for over 78% of national output.
• Oil total exports: $44.8 billion in 2024.
• Petrobras accounts for 98% of oil production.
• Pre-salt drilling has lower average CO₂ emissions.

Kuwait

Kuwait aims big, planning major capacity expansion while keeping costs low. The oil business provides most of the national wealth and budget. Newly discovered fields are expected to boost future output. Kuwait’s firm reserves mean many years of production ahead.

• Produced about 2.7 million barrels per day.
• Proven reserves: 101.5 billion barrels (7th globally).
• New field discovery: Al-Nokhatha (2.1B barrels).
• Plans to double production by 2040.
• The energy sector reports for over 90% of the government’s revenue.

Norway

Norway’s oil production changes as new fields start operating, helping Europe meet its energy needs. Monthly output has jumped at times with the launch of new projects, even breaking past records. Most of the oil is sold abroad, and Norway continues to invest heavily in finding more reserves. The oil industry remains a major part of Norway’s strong economy.

• Produced 1.96 million barrels/day at the monthly peak in 2025.
• Main fields: Troll, Johan Sverdrup, Johan Castberg.
• 94 active fields in 2024.
• Petroleum sector investment: $27 billion USD in 2025.
• Norway exports oil to most of Europe.

Mexico

Mexico faces steady declines in oil output as old fields run dry—new drilling struggles to keep pace with falling production. Pemex, the state company, faces financial losses and high debt. The government works to reverse the downward trend.

• Produced about 1.8 million barrels per day.
• Pemex’s net loss: $2.12 billion in Q1 2025.
• Imports more fuel as crude output falls.
• Production has dropped by over 40% since the mid-2000s.
• Old Gulf of Mexico wells are primary sources.

Kazakhstan

Kazakhstan produces steady output but often misses targets due to field maintenance. Plans call for bigger volume as new projects finish. Large state-backed operations dominate the oil sector. Export routes and refining infrastructure support growth.

• Produced about 1.9 million barrels a day.
• Tengiz and Kashagan are the top fields.
• Planned output: up to 2 million barrels/day.
• Major annual maintenance affected 2024 totals.
• Associated gas processing plants under construction.

Qatar

Oil is essential to Qatar, but natural gas is even more critical. Major expansion projects focus on boosting both oil and gas output. Plans will make Qatar a global leader in LNG. The North Field is one of the largest reserves in the world.

• Produced about 1.8 million barrels/day.
• LNG export capacity: 77 million tons/year.
• Targets 142 million tons/year of LNG by 2030.
• One of the world’s top LNG exporters.
• North Field is shared with Iran as South Pars.

United Kingdom

North Sea oil keeps declining, cutting into the UK’s domestic supply. New drilling licenses are ending; most future energy will be imported. UK’s offshore wind booms while oil fades. Experts predict rapid dependence on imports.

• Offshore output dropped 12% in 2024.
• Less than 15% of UK energy is now from domestic oil.
• The North Sea has lost 65% peak output since 1999.
• Imports now account for around 40% of the UK’s energy needs.
• The government is stopping new oil licenses.

Nigeria

Nigeria faces challenges from theft and sabotage, yet remains a top African producer. Local refineries improved in 2024, but output often falls short of OPEC quotas. The region faces investment challenges, pipeline vandalism, and underdeveloped infrastructure. Dangote Refinery boosts domestic processing.

• Produced about 1.5 million barrels/day in 2024.
• Dangote Refinery holds 44% of refining capacity.
• The oil sector lost 11,300 barrels/day to theft (down from 102,000 in 2021).
• Refinery utilization up to 65% (from 30% in 2023).
• The primary export market for West Africa.

Algeria

Algeria’s oil output slowly declines each year, but gas also plays a significant role. Sonatrach is Africa’s biggest energy company, making new deals and discoveries. Export revenues are vital for the country’s budget. New partnerships may boost future growth.

• Produced about 1.38 million barrels per day.
• Sonatrach runs most energy projects (over 150 subsidiaries).
• Exports mainly to Europe (402,000 barrels/day).
• New contract with Midad Energy: $5.4 billion.
• Oil and gas: 95% of Algeria’s export revenue.

Libya

Libyan oil production swings dramatically due to instability. Big plans could see exports jump if the political situation settles. The National Oil Corporation urges more foreign investment. Output is at its highest since 2013, but risks remain.

• Produced up to 1.47 million barrels/day in 2024.
• Target output: 2 million barrels/day long-term.
• Needs $3–$4 billion to boost production.
• Frequent shutdowns stem from local disputes.
• New exploration planned for international firms.

Angola

Angola’s oil production has been falling for some time, which led the country to leave OPEC. Most of its oil still comes from old offshore wells. Investment and new technology are needed to reverse the decline. The country relies heavily on oil for its economy.

• Produced about 1.13 million barrels/day in 2024.
• Lost OPEC support after leaving the group.
• Average output in the past decade: 1.42 million barrels/day.
• Production peaked at 2 million barrels/day in the late 2000s.
• Faces technical issues in mature fields.

Oman

Oman sticks closely to OPEC production cuts, impacting overall output. Oil is the backbone of the economy, despite recent contraction. Export volumes remain significant, mainly to Asia—plans for expansion delayed by global agreements.

• Produced just under 1 million barrels/day.
• Output down 5.1% from the previous year.
• Proven reserves: 4.8 billion barrels.
• Committed to OPEC+ voluntary cuts.
• Hydrocarbon GDP fell 2.8%, but non-oil GDP rose 4.2%.

Venezuela

Sanctions and mismanagement slowed Venezuela’s output. New deals help exports, mainly to China. The country still has the world’s largest proven reserves. Recovery remains slow until significant investment returns.

• Output 900,000–1.1 million barrels/day.
• State firm PDVSA exports about 805,000 barrels/day.
• 95% of current exports go to China.
• Proven reserves: 303 billion barrels.
• The oil industry faces investment and infrastructure hurdles.

Indonesia

Indonesia’s output slips as old wells dry and little new drilling occurs. The country is now a net importer of oil. Local companies work to optimize remaining production. Policy and investment gaps limit significant growth.

• Produced about 868,000 barrels/day (down 13,000).
• Most production by Pertamina Hulu Energi.
• 8 refineries with 1.2 million barrels/day capacity.
• Proven reserves: 2.3 billion barrels (fell 3%).
• Consumption now exceeds supply by around 800,000 barrels/day.

Ecuador

Ecuador faces declining production due to strict environmental regulations and pipeline issues. Most oil is exported, but field closures limit future supply: major shutdowns and eco-friendly policies slow growth. Oil remains key to exports and national income.

• Averaged about 467,000 barrels/day in 2024.
• Pipelines OCP and SOTE face erosion and outages.
• Referendum halted new oil projects in Yasuni National Park.
• Petroecuador shut down 48 wells in 2025.
• Expects export revenue to drop to $7.7B in 2025 (from $10B in 2024).

Here is a list of the top 100 oil producers by country worldwide:

Rank	Country	Production (bbl/day)
2	United States	13,401,000
3	Saudi Arabia	10,815,700
4	Russia	10,750,000
5	Canada	5,500,000
6	China	4,715,000
7	Iraq	4,162,000
8	Iran	4,084,000
9	UAE	3,770,000
10	Brazil	3,630,000
11	Kuwait	2,720,000
12	Norway	2,026,000
13	Mexico	1,905,500
14	Kazakhstan	1,897,000
15	Qatar	1,815,100
16	United Kingdom	1,790,000
17	Nigeria	1,647,000
18	Algeria	1,415,000
19	Libya	1,255,000
20	Angola	1,235,000
21	Oman	1,040,000
22	Venezuela	943,000
23	Indonesia	845,000
24	India	772,000
25	Colombia	765,500
26	Azerbaijan	712,000
27	Argentina	700,000
28	Egypt	661,000
29	Guyana	645,000
30	Malaysia	600,000
31	Ecuador	486,000
32	Australia	445,000
33	Thailand	440,000
34	Congo	275,000
35	Turkmenistan	270,000
36	Gabon	226,000
37	Sudan	200,000
38	Vietnam	190,000
39	Ghana	186,000
40	Bahrain	185,000
41	South Sudan	160,000
42	Italy	150,000
43	Chad	140,000
44	Germany	135,000
45	Peru	123,000
46	Pakistan	101,000
47	Brunei	100,000
48	South Africa	100,000
49	Syria	95,000
50	Turkey	89,000
51	France	82,000
52	Equatorial Guinea	79,000
53	Netherlands	76,100
54	Romania	75,000
55	Yemen	70,200
56	Denmark	70,000
57	Uzbekistan	67,000
58	Bolivia	66,000
59	Cameroon	65,000
60	Ukraine	60,000
61	Trinidad and Tobago	54,000
62	Spain	50,000
63	Tunisia	45,000
64	Cuba	40,000
65	South Korea	38,000
66	Belarus	35,000
67	Ivory Coast	35,000
68	Hungary	35,000
69	Papua New Guinea	31,000
70	Senegal	30,000
71	Poland	28,500
72	DR Congo	22,000
73	Austria	20,000
74	Mongolia	17,000
75	Israel	15,000
76	Suriname	15,000
77	Albania	14,000
78	New Zealand	14,000
79	Serbia	13,000
80	Philippines	10,500
81	Croatia	10,000
82	Myanmar	8,000
83	Kyrgyzstan	6,200
84	Guatemala	6,000
85	Niger	6,000
86	Timor-Leste	5,000
87	Japan	3,500
88	Bangladesh	3,000
89	Chile	2,300
90	Greece	1,500
91	Czech Republic	1,400
92	Barbados	1,000
93	Bulgaria	1,000
94	Belize	800
95	Lithuania	700
96	Tajikistan	300
97	Georgia	200
98	Taiwan	200
99	Jordan	100
100	Slovakia	100

Read More: Largest Natural Gas Reserves (Top 100 Countries)