World oil production is the total amount of crude oil and other liquid hydrocarbons that are extracted from the earth and refined into petroleum products such as gasoline, diesel fuel, and jet fuel. Oil production is a critical factor in the global economy and energy security, as oil is one of the most widely used and traded commodities in the world.

According to data from the International Energy Agency (IEA), global oil production has steadily increased over the past few decades, with the exception of occasional disruptions due to geopolitical events, economic downturns, and other factors. In 2020, global oil production was approximately 93 million barrels per day (b/d), down from the record high of 100 million b/d in 2019 due to the COVID-19 pandemic.

The largest oil-producing countries in the world are the United States, Saudi Arabia, and Russia. These three countries alone accounted for over a third of global oil production in 2020. Other major oil producers include China, Canada, Iran, Iraq, and the United Arab Emirates.

In recent years, the United States has become a major player in the global oil market due to the shale revolution, which has led to a significant increase in domestic oil production. In 2020, the United States produced approximately 11 million b/d, making it the world's largest oil producer.

Saudi Arabia, on the other hand, has traditionally been the world's largest oil exporter and a key player in the Organization of the Petroleum Exporting Countries (OPEC), which is a cartel of oil-producing countries that work together to regulate global oil supply and prices. OPEC members collectively produce over 40% of the world's oil, with Saudi Arabia being the largest producer and de facto leader of the group.

Russia is another major player in the global oil market, with a significant portion of its economy depending on oil exports. Despite being hit hard by international sanctions and low oil prices in recent years, Russia has maintained its position as one of the top three oil producers in the world.

Overall, oil production is a complex and constantly evolving industry that plays a critical role in the global economy. As demand for oil continues to grow, especially in emerging economies, the global oil market will likely remain a key focus of international trade and politics for the foreseeable future. However, as the world transitions towards cleaner and more sustainable sources of energy, the role of oil in the global energy mix may gradually decrease over time.

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