Top 10 Highest Oil Producing Countries In The World
Intro:
Oil-producing countries play a significant role in shaping the global energy landscape. Oil generates revenue for countries with enough oil reserves to produce more oil than they consume. And for those economies that are heavily dependent on imports, oil expenditures must be factored into national budgets. Not surprisingly, events such as unrest in oil-producing regions, new oil field discoveries, and advances in extraction technology profoundly affect the oil industry. Most of the time, the top oil-producing countries in the world rake in a lot of profit from oil production. the Organization of Oil Producing Countries, or OPEC, remains a powerful cartel of oil producers worldwide that can influence the global market price.
Here are the top 10 oil producing countries in the world.
1. United States: Production: 20,213,000 bpd
2. Saudi Arabia: Production: 12,144,000 bpd
3. Russia: Production: 10,938,000 bpd
4. Canada: Production: 5,694,000 bpd
5. China: Production: 5,119,000 bpd
6. Iraq: Production: 4,553,000 bpd
7. United Arab Emirates: Production: 4,237,000 bpd
8. Brazil: Production: 3,803,000 bpd
9. Iran: Production: 3,661,000 bpd
10. Kuwait: Production: 3,022,000 bpd
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Top 10 Highest Oil Producing Countries In The World
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