Which countries produce the most oil per day in 2023? Here’s the top 10 ranking!
- ASUMUP
- National Rankings
- November 9, 2024
In 2023, global oil demand continues to surge, keeping oil production levels under intense scrutiny. The top oil-producing nations vary significantly in both production capacity and global impact. These countries supply millions of barrels of oil per day, fueling economies, industries, and transportation around the world.
Understanding which countries lead in oil production gives insight into the global energy market, geopolitical dynamics, and economic trends. Major producers such as the United States, Russia, and Saudi Arabia remain at the forefront, with substantial production capacities.
This ranking provides a snapshot of the ten largest daily oil producers in 2023, each playing a critical role in meeting global demand. Whether driven by extensive reserves or advanced extraction technology, these nations' contributions shape the world’s energy landscape.
Here’s a closer look at the top 10 oil-producing nations of 2023 by their average daily output.
Top Oil Producers 2023!
- 1st United States - 13.3 million barrels
- 2nd Russia - 10.27 million barrels
- 3rd Saudi Arabia - 8.95 million barrels
- 4th Canada - 4.99 million barrels
- 5th Iraq - 4.44 million barrels
- 6th China - 4.17 million barrels
- 7th Iran - 4.08 million barrels
- 8th Brazil - 3.58 million barrels
- 9th United Arab Emirates - 3.3 million barrels
- 10th Kuwait - 2.64 million barrels
10th Kuwait - 2.64 million barrels
Kuwait rounds out the top 10 oil-producing nations with a daily output of 2.64 million barrels. The country’s oil reserves are concentrated in the Burgan field, one of the largest oil fields in the world. Kuwait’s oil production is the backbone of its economy, making it highly dependent on oil exports.
As an OPEC member, Kuwait’s production levels contribute to the organization’s influence over global oil prices. Its consistent output and substantial reserves make Kuwait a key player in the Middle Eastern oil landscape.
9th United Arab Emirates - 3.3 million barrels
The United Arab Emirates (UAE) produces 3.3 million barrels of oil per day, placing it ninth globally. The UAE’s oil reserves are primarily concentrated in Abu Dhabi, and the country has invested heavily in advanced extraction technologies. As an OPEC member, the UAE is a significant contributor to the organization's decisions on global oil output.
The UAE’s oil revenue supports its diversified economy, allowing it to invest in infrastructure and technology. Its role within OPEC and consistent production levels make it an influential player in the oil market.
8th Brazil - 3.58 million barrels
Brazil ranks eighth in oil production, with a daily output of 3.58 million barrels. The country’s production is largely offshore, with significant reserves in the pre-salt layer off the coast of Rio de Janeiro. Brazil’s investment in deep-water drilling technology has enabled it to increase its production substantially.
As the leading oil producer in South America, Brazil’s oil sector is crucial to its economy. Its exports strengthen Brazil’s position in the global oil market, and its technological advancements make it a key player in offshore production.
7th Iran - 4.08 million barrels
Iran’s daily oil production stands at 4.08 million barrels, securing the seventh position globally. Iran possesses some of the world’s largest oil reserves, mainly located in its southwestern Khuzestan province. Despite economic sanctions, Iran continues to play a significant role in regional oil supply.
Iran’s oil industry is a cornerstone of its economy, and the country has consistently invested in its energy infrastructure. Its production capacity is vital to the Middle East oil landscape, impacting both neighboring countries and international markets.
6th China - 4.17 million barrels
China produces 4.17 million barrels of oil per day, ranking sixth globally. As the world’s largest energy consumer, China’s domestic oil production helps to offset its high energy demand. The majority of China’s oil fields are located in the northeastern and western parts of the country, such as the Daqing field.
Though China still imports a substantial amount of oil, its domestic production is vital for energy security. China’s investment in technology and exploration reflects its commitment to maintaining a stable domestic oil supply.
5th Iraq - 4.44 million barrels
Iraq stands as the fifth-largest oil producer, with a daily output of 4.44 million barrels. The country's oil production is centered around its rich reserves in Basra and the southern oil fields. Despite challenges, Iraq has increased its production capacity, relying heavily on oil revenue to support its economy.
Iraq’s role in the global oil market is crucial, particularly as it seeks to stabilize its economy. The country’s production output has a notable influence within OPEC and contributes to balancing oil supply in the Middle East.
4th Canada - 4.99 million barrels
Canada ranks fourth in global oil production with an output of 4.99 million barrels per day. A major portion of Canada’s oil comes from its oil sands in Alberta, which are among the largest oil reserves in the world. Canada’s production is integral to North American energy security, providing oil for both domestic use and export to the United States.
Environmental concerns around oil sands production are significant, but Canada continues to invest in technology to mitigate its environmental impact. As a reliable supplier in the global market, Canada plays a key role in regional and international energy stability.
3rd Saudi Arabia - 8.95 million barrels
Saudi Arabia, a cornerstone of the global oil industry, ranks third with a daily production of 8.95 million barrels. As a leading member of OPEC, Saudi Arabia has a crucial role in managing global oil prices and supply. The country’s oil production is concentrated in its massive onshore and offshore fields, including the world-renowned Ghawar field.
Saudi Arabia's oil exports are central to its economy, with revenues from oil production funding ambitious projects aimed at diversifying its economy. Known for its influence on global oil prices, Saudi Arabia’s role remains vital in balancing the international energy market.
2nd Russia - 10.27 million barrels
Russia secures the second spot with a daily oil output of 10.27 million barrels. Known for its vast natural resources, Russia's oil production is primarily sourced from its extensive Siberian fields. The country has long been a dominant player in the global energy market, with oil exports making a major contribution to its economy.
Despite recent geopolitical challenges, Russia maintains a significant presence in the global oil supply chain. Its production not only influences the European market but also plays a crucial role in shaping prices on the international stage.
1st United States - 13.3 million barrels
The United States leads global oil production in 2023 with a substantial output of 13.3 million barrels per day. This high production level is driven by the extensive reserves within its shale basins, particularly in Texas and North Dakota. Technological advances in hydraulic fracturing (fracking) and horizontal drilling have enabled the U.S. to boost its oil output significantly over the past decade.
Beyond domestic consumption, the United States also exports a significant portion of its oil production, contributing to energy security and influencing global oil prices. The country's role as the top oil producer highlights its central position in the energy sector, affecting everything from international trade to national economic stability.
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