January 9, 2023

Top 10 Oil-Producing Countries In The World In 2023


United States output increased by 266,000 BPD from its 2020 level to reach 18,875,000 BPD last year.

Saudi Arabia’s oil output came in at 10,835,000 BPD in 2021 and possesses 17% of the world’s petroleum reserves.

Prior to production cuts in 2020, Russian oil output had spent a number of years rising; it hit 10,778,000 BPD last year.

Canada's annual oil production rose to 5,558,000 BPD in 2021, up from 2020’s output levels of 5,235,000 BPD.

China’s annual oil output was 4,993,000 BPD in 2021. The nation is the world’s second-largest consumer of oil.

Iraq has seen its oil production decrease in recent years, falling from 4,788,000 BPD in 2019 to 4,149,000 BPD in 2021.

The United Arab Emirates saw a small year-on-year increase in production, with oil output rising to 3,786,000 BPD.

Brazil’s oil production fell slightly from 3,769,000 BPD in 2020 to 3,689,000 BPD in 2021.

Iran’s oil output increased dramatically last year, rising from 2,990,000 BPD in 2020 to 3,458,000 BPD in 2021.

In 2018, Kuwait made a slight recovery, producing 3,059,000 BPD; production fell again in 2019 to 3,017,000 BPD.

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