Saudi Arabia has pushed oil production to an all-time high
, causing the price of oil to drop to $50 per barrel.
The United States
produces the greatest volume of oil in 2017, totaling 571 million tons of oil in 2017. Saudi Arabia
and Russia came in a close second and third, with each country producing a total volume of 561 and 554 million tons of oil respectively. The top three oil producers, measured by the volume of oil produced in 2017, produced more oil than the bottom 7 countries in the top 10 combined.