Global oil production 2021, by country

The United States produced the most oil in the world in 2021, at around 16.6 million barrels of oil per day on average. Saudi Arabia and Russia followed as the second and third largest producers, and also rank amongst the top countries with highest oil exports.

OPEC production share

Many of the top oil-producing countries belong to the Organization of the Petroleum Exporting Countries, also known as OPEC. The group was founded in 1960 by five original members: Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela. As of 2021, 15 nations belong to OPEC, and the organization holds powerful influence on the prices of oil, with some 37 percent of the total global share of crude oil production coming from OPEC.

Increased production in the United States

The United States was not always the largest producer of oil, but imported oil at higher rates before the 2008 financial crisis. As foreign oil prices peaked during the Recession, investors sought to develop technology to extract more oil domestically, notably through hydraulic fracturing. Since then, oil production in the United States has nearly doubled, reducing the need for imports.