Global oil production 1998-2023

In 2023, global crude oil production amounted to approximately 4.5 billion metric tons. This was the largest amount that had ever been produced and nearly one billion metric tons more than oil produced in 1998.

Which countries extract the most oil?

The United States is the largest oil producing country in the world. Profiting off advances in horizontal drilling and shale extraction, the U.S. has succeeded OPEC-affiliated countries, such as Saudi Arabia, in becoming the world's greatest supplier of crude oil.

Oil production in the United States

The U.S. has been producing oil since the 1850s. U.S. oil production initially decreased until 2008, but has been steadily increasing since. Texas is by far the U.S. state that produces the most crude oil. It is home to the Permian Basin and Eagle Ford shale play, two of the most important petroleum-rich locations in the country. The U.S. also operates numerous rigs located offshore in the Gulf of Mexico, which contribute significantly to overall oil and gas production.