5 Countries That Produce the Most Oil in the World

1. United States

2021 Oil Production (million barrels per day): 16.59

The United States ranks #1 on our list of 15 Countries That Produce the Most Oil in the World given its oil production of 16.59 million barrels per day according to BP’s Statistical Review of World Energy’s definition of oil which includes condensates and natural gas liquids such as ethane, LPG, and naphtha.

According to the EIA’s more strict definition, U.S. crude oil production was 11.25 million barrels per day for the year which would still rank the country first in the world in terms of production last year.

Although the U.S. is the largest producer of oil, the country is also the biggest consumer of oil. According to the EIA, the U.S. consumed 19.89 million barrels per day of liquid fuels, up from 18.19 million in 2020.

While the U.S. still has a deficit, its production has nevertheless increased over the years, and it could be possible in the future for the United States to be potentially self-sufficient in terms of oil.

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