1. United States: The United States continues to hold its top position by being the largest oil-producing country. As of 2024, the USA is heavily involved in the extraction of oil, both offshore and onshore. Major oil fields in the country are concentrated in the Permian Basin, Alaska, and the Gulf of Mexico. In addition, American oil companies have leveraged technology like hydraulic fracturing to increase production in recent years.
2. Saudi Arabia: Standing at the second spot, Saudi Arabia is a key player in the oil industry, with immense reserves and leading the Organization of Petroleum Exporting Countries (OPEC). The country is home to some of the largest oil fields globally, including the Ghawar Field and the Safaniya Field. Aramco, the national oil company, remains one of the world’s most powerful oil companies.
3. Russia: With vast territories rich in natural resources, Russia ranks third on our list. The country’s major oil companies, including Rosneft and Lukoil, exploit sizeable reserves in Western Siberia and the Urals-Volga region, significantly contributing to global oil production.
4. Canada: Canada comes in fourth, boasting large oil sand deposits in its western province of Alberta. The extraction from oil sands has propelled Canada to be a significant player in the global oil industry. Canadian oil companies are also making noticeable strides in reducing the environmental impact of their operations.
5. Iraq: OPEC’s second-largest producer, Iraq, remains a crucial part of the oil-production puzzle. Despite political instability and practical struggles, the giant oil fields such as Rumaila, West Qurna, and Majnoon, play a pivotal role in keeping Iraq at the forefront of oil production.
6. Brazil: Brazil’s oil production growth has been substantial, largely assisted by the deepwater oil fields in the Campos and Santos Basins off the coast. The state-owned Petrobras company is among the world’s leaders in using advanced technology for deepwater oil exploration and drilling.
7. Iran: Iran, another key member of OPEC, has substantial reserves of oil, particularly in its southern region, adjacent to the Persian Gulf. Despite facing sanctions and geopolitical challenges, Iran continues to be a vital participant in the global oil production stage.
8. China: While China is the world’s second-largest oil consumer, it is also a major producer. The majority of its oil production comes from the northeastern and western provinces. China National Petroleum Corporation (CNPC), is the leading oil producer in the country.
9. United Arab Emirates: The UAE has considerable oil reserves, primarily located in the emirate of Abu Dhabi. The Abu Dhabi National Oil Company (ADNOC) has ambitious plans to increase its oil-production capacity, reinforcing the UAE’s position as a key player in global oil production.
10. Kuwait: With a significant part of its economy centered around oil, Kuwait rounds up our list of top 10 oil-producing countries. Its Burgan field is one of the largest sandstone oil fields in the world, securing Kuwait’s place among the leading oil producers.
Overall, these countries play a critical role in oil production, meeting the global energy demand with their extensive resources and advanced extraction techniques. They demonstrate a range of approaches to the challenges and opportunities that come with being handmaidens of such a valuable and contested resource. As the world strives to balance energy needs with environmental impacts, the oil-producing landscape may continue to change in unexpected ways in the future.
