The world’s energy needs are constantly growing, and oil is one of the most important sources of energy. As such, it is important to know which countries are the top producers of oil. This article will provide an updated list of the top 10 oil producing countries in the world as of 2023.
The United States is the world’s largest producer of oil, with an estimated production of 17.9 million barrels per day in 2023. This is a significant increase from the 16.3 million barrels per day produced in 2020. The US is followed by Saudi Arabia, which is estimated to produce 12.3 million barrels per day in 2023. Russia is the third largest producer, with an estimated production of 11.2 million barrels per day.
The other top oil producing countries include Canada, Iraq, Iran, United Arab Emirates, Kuwait, Brazil, and Venezuela. Canada is estimated to produce 5.3 million barrels per day in 2023, while Iraq is estimated to produce 4.7 million barrels per day. Iran is estimated to produce 4.6 million barrels per day, while the United Arab Emirates is estimated to produce 4.2 million barrels per day. Kuwait is estimated to produce 3.2 million barrels per day, while Brazil and Venezuela are estimated to produce 2.9 million barrels per day and 2.7 million barrels per day, respectively.
These top 10 oil producing countries account for more than half of the world’s total oil production. As such, they are essential to the global energy market and will continue to be important players in the years to come. It is important to note that the production figures provided in this article are estimates and may vary depending on the market conditions.
