The World’s Largest Oil Producers
The world is in the middle of the first energy crisis of the 21st century.
High energy prices, especially for oil, gas, and coal, are driving decades-high inflation in various countries, some of which are also experiencing energy shortages. Russia’s recent invasion of Ukraine has exacerbated the crisis, given that the country is both a major producer and exporter of oil and natural gas.
Using data from BP’s Statistical Review of World Energy, the above infographic provides further context on the crisis by visualizing the world’s largest oil producers in 2021.
Oil Production: OPEC Countries vs. Rest of the World
Before looking at country-level data, it’s worth seeing the amount of oil the Organization of Petroleum Exporting Countries (OPEC) produces compared to other organizations and regions.
|Region/Organization||2021 Oil Production (barrels per day)||% of Total|
|Commonwealth of Independent States (CIS)||13.8M||15%|
|Rest of the World||20.5M||23%|
The OPEC countries are the largest oil producers collectively, with Saudi Arabia alone making up one-third of OPEC production. It’s also important to note that OPEC production remains below pre-pandemic levels after the organization reduced its output by an unprecedented 10 million barrels per day (B/D) in 2020.
Following the OPEC countries, the U.S., Canada, and Mexico accounted for just over a quarter of global oil production in 2021. Nearly 70% of North American oil production came from the U.S., the world’s largest oil producer.
Similarly, within the CIS—an organization of post-Soviet Union countries—Russia was by far the largest producer, accounting for 80% of total CIS production.
The Largest Oil Producers in 2021
Roughly 43% of the world’s oil production came from just three countries in 2021—the U.S., Saudi Arabia, and Russia. Together, these three countries produced more oil than the rest of the top 10 combined.
|Country||2021 Oil Production (barrels per day)||% of Total|
|Saudi Arabia 🇸🇦||11M||12.2%|
|Russian Federation 🇷🇺||10.9M||12.2%|
|United Arab Emirates 🇦🇪||3.7M||4.1%|
|United Kingdom 🇬🇧||0.87M||1.0%|
|Republic of Congo 🇨🇬||0.27M||0.3%|
|South Sudan 🇸🇩||0.15M||0.2%|
|Equatorial Guinea 🇬🇳||0.14M||0.2%|
|Trinidad & Tobago 🇹🇹||0.08M||0.1%|
|Rest of the World 🌍||1.2M||1.4%|
Over the last few decades, U.S. oil production has been on a rollercoaster of troughs and peaks. After falling from its 1970 peak of 11.3 million B/D, it reached a historic low of 6.8 million B/D in 2008. However, following a turnaround in the 2010s, the country has since surpassed Saudi Arabia as the largest oil producer. As of 2021, though, the U.S. remained a net importer of crude oil while exporting refined petroleum products.
Saudi Arabia and Russia each produced roughly 11 million B/D in 2021 and were the two largest oil exporters globally. In both countries, state-owned oil firms (Saudi Aramco and Gazprom, respectively) were the most valuable oil and gas producing companies.
From Europe (excluding Russia), only Norway made the top 15 oil producers, accounting for 2.3% of global production. The lack of regional output partly explains the European Union’s dependence on Russian oil and gas, worsening the region’s energy crisis.
How the Energy Crisis is Affecting Oil Production
After a deep dive in 2020, oil demand is resurfacing and is now above pre-pandemic levels. Furthermore, supply constraints due to sanctions on Russian oil and gas tighten the market and support high oil prices.
While the impact has been felt globally, European countries have been hit hard due to their reliance on Russia’s fossil fuel exports, with some getting almost all of their energy fuels from Russia.
To combat the oil crunch, the rest of the world is ramping up oil supply through increased production or releasing strategic petroleum reserves (SPRs). U.S. oil production is expected to rise by 1 million B/D in 2022 to a record-high. Simultaneously, Western nations are calling on OPEC members to increase their output to ease prices. However, OPEC nations are sticking to their planned production hikes, with output still below early 2020 levels.
“We had a good discussion on ensuring global energy security and adequate oil supplies to support global economic growth. And that will begin shortly.”– U.S. President Joe Biden on his recent visit to Saudi Arabia
The U.S. is releasing 180 million barrels of oil from its SPR, of which 60 million barrels will contribute to the IEA’s collective release of 120 million barrels. But with oil demand expected to reach a new all-time high in 2023, it remains to be seen whether these efforts to increase supply will be enough to curb the crunch.
Ranked: The World’s Biggest Oil Producers
Just three countries—the U.S., Saudi Arabia and Russia—make up the lion’s share of global oil supply. Here are the world’s biggest oil producers.
Ranked: The World’s Biggest Oil Producers
This visualization originally appeared on Visual Capitalist
In 2022 oil prices peaked at more than $100 per barrel, hitting an eight-year high, after a full year of turmoil in the energy markets in the wake of the Russian invasion of Ukraine.
Oil companies doubled their profits and the economies of the biggest oil producers in the world got a major boost.
But which countries are responsible for most of the world’s oil supply? Using data from the Statistical Review of World Energy by the Energy Institute, we’ve visualized and ranked the world’s biggest oil producers.
Ranked: Oil Production By Country, in 2022
The U.S. has been the world’s biggest oil producer since 2018 and continued its dominance in 2022 by producing close to 18 million barrels per day (B/D). This accounted for nearly one-fifth of the world’s oil supply.
Almost three-fourths of the country’s oil production is centered around five states: Texas, New Mexico, North Dakota, Alaska, and Colorado.
We rank the other major oil producers in the world below.
|YoY Change||Share of
|2||🇸🇦 Saudi Arabia||12,136||+10.8%||12.9%|
|36||🇸🇸 South Sudan||141||-7.6%||0.2%|
|51||Other Middle East||210||+1.2%||0.2%|
|54||Other Asia Pacific||177||-10.6%||0.2%|
|55||Other S. &|
Behind America’s considerable lead in oil production, Saudi Arabia (ranked 2nd) produced 12 million B/D, accounting for about 13% of global supply.
Russia came in third with 11 million B/D in 2022. Together, these top three oil producing behemoths, along with Canada (4th) and Iraq (5th), make up more than half of the entire world’s oil supply.
Meanwhile, the top 10 oil producers, including those ranked 6th to 10th—China, UAE, Iran, Brazil, and Kuwait—are responsible for more than 70% of the world’s oil production.
Notably, all top 10 oil giants increased their production between 2021–2022, and as a result, global output rose 4.2% year-on-year.
Major Oil Producing Regions in 2022
The Middle East accounts for one-third of global oil production and North America makes up almost another one-third of production. The Commonwealth of Independent States—an organization of post-Soviet Union countries—is another major regional producer of oil, with a 15% share of world production.
|YoY Change||Share of
|South & Central|
What’s starkly apparent in the data however is Europe’s declining share of oil production, now at 3% of the world’s supply. In the last 20 years the EU’s oil output has dropped by more than 50% due to a variety of factors, including stricter environmental regulations and a shift to natural gas.
Another lens to look at regional production is through OPEC members, which control about 35% of the world’s oil output and about 70% of the world’s oil reserves.
When taking into account the group of 10 oil exporting countries OPEC has relationships with, known as OPEC+, the share of oil production increases to more than half of the world’s supply.
Oil’s Big Balancing Act
Since it’s the very lifeblood of the modern economy, the countries that control significant amounts of oil production also reap immense political and economic benefits. Entire regions have been catapulted into prosperity and wars have been fought over the control of the resource.
At the same time, the ongoing effort to pivot to renewable energy is pushing many major oil exporters to diversify their economies. A notable example is Saudi Arabia, whose sovereign wealth fund has invested in companies like Uber and WeWork.
However, the world still needs oil, as it supplies nearly one-third of global energy demand.
What Electricity Sources Power the World?
Coal still leads the charge when it comes to electricity, representing 35% of global power generation.
What Powered the World in 2022?
In 2022, 29,165.2 terawatt hours (TWh) of electricity was generated around the world, an increase of 2.3% from the previous year.
In this visualization, we look at data from the latest Statistical Review of World Energy, and ask what powered the world in 2022.
Coal is Still King
Coal still leads the charge when it comes to electricity, representing 35.4% of global power generation in 2022, followed by natural gas at 22.7%, and hydroelectric at 14.9%.
Over three-quarters of the world’s total coal-generated electricity is consumed in just three countries. China is the top user of coal, making up 53.3% of global coal demand, followed by India at 13.6%, and the U.S. at 8.9%.
Burning coal—for electricity, as well as metallurgy and cement production—is the world’s single largest source of CO2 emissions. Nevertheless, its use in electricity generation has actually grown 91.2% since 1997, the year when the first global climate agreement was signed in Kyoto, Japan.
Renewables on the Rise
However, even as non-renewables enjoy their time in the sun, their days could be numbered.
In 2022, renewables, such as wind, solar, and geothermal, represented 14.4% of total electricity generation with an extraordinary annual growth rate of 14.7%, driven by big gains in solar and wind. Non-renewables, by contrast, only managed an anemic 0.4%.
The authors of the Statistical Review do not include hydroelectric in their renewable calculations, even though many others, including the International Energy Agency, consider it a “well-established renewable power technology.”
With hydroelectric moved into the renewable column, together they accounted for over 29.3% of all electricity generated in 2022, with an annual growth rate of 7.4%.
France’s Nuclear Horrible Year
Another big mover in this year’s report was nuclear energy.
In addition to disruptions at the Zaporizhzhia nuclear power plant in Ukraine, shutdowns in France’s nuclear fleet to address corrosion found in the safety injection systems of four reactors led to a 4% drop in global use, year-over-year.
The amount of electricity generated by nuclear energy in that country dropped 22% to 294.7 TWh in 2022. As a result, France went from being the world’s biggest exporter of electricity, to a net importer.
Powering the Future
Turning mechanical energy into electrical energy is a relatively straightforward process. Modern power plants are engineering marvels, to be sure, but they still work on the same principle as the very first generator invented by Michael Faraday in 1831.
But how you get the mechanical energy is where things get complicated: coal powered the first industrial revolution, but heated the planet in the process; wind is free and clean, but is unreliable; and nuclear fission reliably generates emission-free electricity, but also creates radioactive waste.
With temperature records being set around the world in the summer, resolving these tensions isn’t just academic and next year’s report could be a crucial test of the world’s commitment to a clean energy future.
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