Top 10 oil-producing countries in 2026: Production, reserves and data analysis

Last updated: August 2026

The United States produced 13.6 million barrels of crude oil per day (mb/d) in 2025, which is far more than any other country, according to the U.S. Energy Information Administration (EIA).

Russia and Saudi Arabia complete the top trio, each producing crude oil within the 9.5 – 9.9 mb/d range.

Together with Canada, Iraq, China, Iran, the UAE, Brazil and Kuwait, the ten biggest oil producers pumped roughly 72% of the world’s crude oil in 2025.

Sidenote: If you wonder how much oil the U.S. produces, you may discover two different numbers, ranging from 13.6 mb/d in one source to 21.9 million in another. Both figures are correct, as they measure different types of petroleum (we’ll explain this later in the article).

Globally, the major user of oil is the transportation industry with more than a third of the world’s oil demand arising from this sector.

At the same time, burning oil represents one of the major pollution sources, accounting for 12.47 billion tonnes of CO2 emissions in 2024. The ecosystem is poisoned by petroleum extraction procedures and byproducts. Leaks could result from underwater drilling, and the water table could be impacted by fracking.

And yet, millions of vehicles, airplanes, vessels, and other means of transport that are used in international development depend on the oil industry.

Source: OurWorldinData

Although efforts to decarbonize oil-dependent industries like transportation are underway, it is still difficult to replace petroleum fuels in sectors such as aviation where alternatives like electric energy simply cannot match the power density of petroleum fuels.

It provides consumers all across the world with plastics, heat, light, and transport. Although it is a non-renewable energy source with a finite supply, it is quite simple to extract. Petroleum-based fuels are also easy to transport and have a high power ratio.

Top 10 oil-producing countries in 2026

The table below features the top 10 nations ranked by the U.S. Energy and Information Administration based on the production level of crude oil (including lease condensate).

Market shares are calculated against the latest publicly available data on world crude output of roughly 84.35 mb/d (EIA). For contrast, in 2024 the global production was 81.91 mb/d.

• Five out of the top 10 countries on the list come from the Persian Gulf region (Saudi Arabia, Iraq, Iran, the UAE and Kuwait).
• Although Russia and Brazil are not OPEC members, they coordinate output via the expanded OPEC+ group.
• The U.S., Canada, and China – set their own production policies independently of both blocs.

As previously noted, apart from data on crude oil production (including lease condensate), you may find EIA data on the top 10 oil-producing countries by total petroleum and other liquids extraction, including crude oil (check out the table below).

Why every source gives a different number

Because the total petroleum and other liquids includes the crude oil figure, the U.S. tops the list under both metrics. However, the second and third places shift, as well as overall production volumes.

Thus, the data for the EIA’s 2023 total-liquids table shows that Saudi Arabia outpaces Russia with a total liquids output of 11.13 mb/d versus 10.75 mb/d.

The top 10 biggest oil producers, country by country

Let’s analyze each country from the list, based on the crude oil output (including lease condensate)

The United States of America

The level of crude oil production in the country, including lease condensate, in 2025 reached 13.6 mb/d, which is a record that put the United States on top of the list of the world’s largest for another year in a row.

Growth came almost entirely from drilling efficiency in shale basins. For instance, the production of the Permian Basin of Texas and New Mexico alone rose from 6.3 to 6.6 mb/d, and note that the U.S. is not an OPEC or OPEC+ member, which means it sets its production output independently.

The U.S. has seen a growth in oil production thanks to technological developments such as hydraulic fracturing and horizontal drilling. This growth has improved the country’s energy security, boosted the economy, and altered the dynamics of the world oil market.

The top three biggest crude oil reserves are located in the states of Texas, New Mexico, the Federal Offshore, and North Dakota.

Oil production by U.S. state (and offshore), thousand b/d, 2025

Source: EIA

Russia

With an average of 9.9 mb/d, Russia is the second-biggest producer of oil in the world.

It is believed that Russia has the greatest potential for new findings. Rich oil deposits, particularly in areas like Western Siberia, help to explain its extraordinary production levels. Modern drilling and extraction procedures used by Russian oil corporations allow them to efficiently access these huge deposits.

Since the European Union’s 2022 ban on seaborne Russian crude, exports have shifted heavily toward China and India, according to the data presented by the International Energy Agency (IEA).

Top countries that bought fossil fuels from Russia after EU bans (in billion EUR), December 2022 – June 2026

Source: Centre for Research on Energy and Clean Air (CREA)

Saudi Arabia

In 2025, Saudi Arabia registered a production level of 9.6 mb/d. Moreover, the nation is home to approximately 17% of the world’s proven petroleum reserves, the second-largest held after Venezuela. Today, the country holds the world’s second-largest proven reserves with 267.2 billion barrels.

According to the agency, Saudi Arabia accounts for over one-third of the total oil supply of the Organization of Petroleum Exporting Countries (OPEC).

The discovery of the Al-Ghawar field propelled Saudi Arabia to prominence as an oil producer. It is run by Saudi Aramco and keeps Saudi Arabia’s capacity at a peak of about 3.8 million b/d.

In early 2025, eight members of OPEC+ decided to increase crude oil production in Q2, after a voluntary decrease of 2.2 million barrels per day in output which was maintained during 2024 with the aim of stabilizing the market and sustaining prices. Over the course of 18 months, from April 2025 to September 2026, Saudi Arabia, Russia, Iraq, Kuwait, the United Arab Emirates, Algeria, Kazakhstan, and Oman have decided to begin to remove their voluntary output cuts.

Canada

Daily crude oil output in Canada reached 4.9 mb/d (2025), which puts it 4th globally (after the United States, Saudi Arabia, and Russia).

The country also boasts the world’s fourth-largest proven reserves (163 billion barrels). It is the top single source of U.S. crude imports, feeding refineries built to process its heavier crude grades.

With a 3.9% increase to 203.1 million cubic meters in 2025, crude oil from the Alberta oil sands remained the largest portion of the country’s production, according to data from the Government of Canada.

Iraq

The country has registered a production of 4.4 mb/d in 2025. Iraq is a founding member of OPEC, and it generates output mainly from giant fields in the south.

Iraq is also among the largest holders of oil reserves in the world, but years of underinvestment led to a situation in which the nation’s resource base is currently undeveloped compared to its size.

Even though in 2025 its crude oil production stood at 4.4 mb/d, the latest data states that the production figure fell to 2.75 mb/d (as of August 2026), and crude oil exports have shown a drastic decrease to 1.75 mb/d, according to Oil Minister Basim Mohammed Khudair Al-Abadi.

Prior to the situation that occurred in the Strait of Hormuz, the country had exported around 3.4 mb/d through the Strait, the minister outlined.

China

The country’s production in 2025 hit 4.3 mb/d, a national record, led by state producers PetroChina and China National Offshore Oil Corporation (CNOOC), with the latter’s offshore fields driving recent growth.

Even though China registered a record domestic output of crude oil, it’s still the world’s largest crude importer by a wide margin – around 11.5 mb/d in 2025, according to EIA– and it’s because demand still far surpasses what domestic fields can supply.

Based on data for the second quarter of 2026 (after the conflict around the Strait of Hormuz has begun), China registered a 32% decrease in crude oil imports (compared to the previous quarter).

Iran

In 2025, Iran registered a production volume of 4.2 mb/d. The country also boasts some of the largest proven reserves globally (208.6 billion barrels).

Iran’s exports have long been constrained by U.S. sanctions, and output was further disrupted when a conflict with Israel and the United States closed the Strait of Hormuz to regular tanker traffic.

On July 31, 2026, Kharg Island, which is vital to Iran’s oil sector, became inactive. Since much of Iran’s coastline is too shallow for large tankers, about nine out of 10 barrels of crude exports are loaded onto a small island in the northern Gulf.

Cargoes that were delivered earlier during a ceasefire and are already reaching Asian purchasers still bring in some money for Iran, but this will soon run out, says the Financial Times.

United Arab Emirates

The UAE production volume in 2025 stood at 3.8 mb/d. The country was an OPEC member, with production run by state-owned Abu Dhabi National Oil Company (ADNOC). On April 28, 2026, the country announced its departure from OPEC.

The UAE holds 113 billion barrels of proven reserves and has been investing in capacity expansion.

Due to the U.S./Israel war on Iran that led to the closure of the Strait of Hormuz, the UAE and Saudi Arabia were the only regional OPEC members that could find other paths for their crude oil exports.

The UAE managed to redirect its exports through the Abu Dhabi Crude Oil Pipeline (ADCOP) to the port of Fujairah located in the Gulf of Oman.
At the moment, the pipeline shows a maximum capacity of 1.8 mb/d, but the country’s officials stated that they plan on doubling the capacity by 2027.

Brazil

Brazil is not an OPEC member but a cooperating OPEC+ producer, and its production registered 3.7 mb/d in 2025.

Brazil remains South America’s top oil producer, with production being mostly concentrated offshore (96.7%), and Petrobras (majority-owned by the state) accounting for 73% of the country’s oil and gas output, according to the International Trade Administration.

For many years, the majority of investments in Brazil’s economy have come from the oil and gas sector, which contributes roughly 10% of the nation’s GDP.

Kuwait

This founding OPEC member registered a production volume of 2.6 mb/d in 2025.

Production is run entirely through the state-owned Kuwait Petroleum Corporation, and oil accounts for roughly 90% of government revenue, according to the International Trade Administration.

Kuwait boasts 102 billion barrels of reserves, which is enough to sustain current output for close to a century.

Kuwait depends nearly solely on the Strait of Hormuz for its crude exports, in contrast to Saudi Arabia and the United Arab Emirates, which are able to utilize other export routes.

Oil reserves by country

The crude oil output from Venezuela — 0.973 mb/d – is just a fraction of what the U.S. or Saudi Arabia produce, and this is despite Venezuela’s Orinoco Belt holding the world’s largest proven oil reserves, at about 303.2 billion barrels.

The reason for such a huge gap is that Orinoco crude is extra-heavy, and thus it’s far more expensive to extract, upgrade, and refine than, for example, lighter grades like Saudi Arabia’s, which flow more easily and need less processing.

Source: OPEC Annual Statistical Bulletin 2025, figures at year-end 2024. World proven crude oil reserves stood at 1,567 billion barrels, of which OPEC members held 1,241 billion barrels, or 79.2%.

Global oil production statistics

• In 2024, worldwide demand for energy increased by 2.2%, which was more than the average growth rate over the previous 10 years. The major driver of this increase was the 4.3% rise in power demand due to increased rates of electrification and digitalization, and extreme temperatures.Most of the increase in the world’s energy supply came from renewable energy (38%), followed by natural gas (28%), coal (15%), oil (11%) and nuclear (8%).
• In 2025, the overall demand for energy around the world registered a slower growth of just 1.3%. Several reasons may explain this, including slower economic growth and slower growth rates in some areas’ energy-dependent industries.
• Although at a slower pace compared to 2024, demand for coal, natural gas, and oil all increased in 2025.
• Global oil supply was seriously affected in April 2026, dropping by 1.8 mb/d to reach 95.1 mb/d. The main reason is the closing of the Strait of Hormuz, which forced oil production from Gulf countries to be 14.4 mb/d lower than it was before the conflict.
• Looking ahead, if shipping via the Strait starts picking back up, we might witness global oil supply reach 102.2 mb/d in 2026, which is still down by 3.9 mb/d compared to pre-crisis levels.

The impact of oil production on developing countries

The energy demands of many developing countries are largely satisfied by oil imports with these nations frequently relying on the top oil-producing nations to satisfy their energy needs.

Moreover, oil price fluctuations can have a direct effect on the economics of emerging nations, being able to reduce foreign direct investment (FDI). Investments in oil-related initiatives can be deterred by market uncertainty thus limiting the opportunity for economic growth and development. In addition, fluctuating oil prices can lead to increased income inequality in developing nations.

The foreign aid provided by major oil-producing countries aims to reduce poverty, improve healthcare, advance education, and promote sustainable development in developing nations. This aid can take many different forms, including grants, loans, or capacity-building programs.

For instance, one of the top 10 major oil producers, the UAE, covers programs in the fields of healthcare, education, sustainable energy, and water security through its Mohammed bin Rashid Al Maktoum Global Initiatives. The UAE has also been crucial in aiding refugees and people who have been forcibly displaced by offering aid and assistance.

What oil production means for developing countries

Most of the top 10 oil producers are still classified as developing or middle-income economies, including Iraq, Iran, Brazil and China, which cuts against the assumption that being a major producer automatically means being a wealthy one.

For countries where oil dominates government revenue and exports, such as Kuwait and Iraq, oil price swings can turn into budget swings.

In case oil prices show a dramatic decrease, both the exporters and the non-oil sectors will feel the pressure. One reason is that falling oil revenue makes foreign investors nervous, since they read it as an early warning sign of broader fiscal trouble, so they pull back their money.

Less foreign direct investment then creates issues across the wider economy, not just the parts directly tied to oil.

When it comes to countries importing oil, energy costs touch nearly everything, including transport prices and fertilizer costs, which is why some donor countries offer funding to energy-access and energy-transition programs within the developing nations.

How can DevelopmentAid help you?

The DevelopmentAid platform allows you to track tenders and grants related to energy projects, running from renewable energy initiatives to power infrastructure programs.

Thus, you can find funding opportunities early, understand what donors are prioritizing, and prepare stronger applications.

In addition, our platform helps you map out the organizations actively operating within the energy sector, including donors, implementers, and other key players. This means that you get a clear view of the sector’s landscape: who’s funding what, who’s already active in a region, and who might be a potential partner or competitor.

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Frequently asked questions (FAQ)

What 10 countries produce the most oil?

On a 2025 crude-oil basis, the top 10 producers are the United States, Russia, Saudi Arabia, Canada, Iraq, China, Iran, the United Arab Emirates, Brazil and Kuwait, which together account for roughly 72% of global output.

Which country is the largest producer of petroleum?

The United States of America is the largest producer of petroleum. In 2025, the country produced 13.6 million barrels of crude oil per day (including lease condensate), which is about 40% more than second-place Russia or Saudi Arabia (EIA).

Which country has the most oil reserves?

Venezuela holds the largest proven reserves at 303.2 billion barrels, which is around 19% of the world total. However, the country does not rank among the top ten producers.

Why do different sources give different oil production numbers?

Because “oil production” is measured on two different bases: crude oil including lease condensate and the total petroleum and other liquids (which adds natural gas plant liquids, biofuels, and refinery processing gain). Both are legitimate; the gap between them can run to several million barrels a day for a single country.

Is the U.S. or Saudi Arabia the biggest oil producer?

The United States, by a wide margin, on both commonly used measurement bases, is the bigger producer. In 2025, the U.S. produced roughly 40% more crude oil than Saudi Arabia.

Final word

Oil-producing countries have a huge weight in the development world, mostly because oil funds so much else, including roads, schools, subsidies, and even whole national budgets in some cases.

However, there’s another side of the same coin. While high prices bring windfalls that can fund diversification, low prices can show just how little else the economy was built on. Moreover, the money itself doesn’t guarantee much since a country with plenty of oil may still struggle with inequality and instability. In the end, the volume of resources matters less than the way these resources are managed.

If your work touches energy-sector programming, DevelopmentAid’s tenders, grants, organizations and jobs pages can be a real step forward in finding live opportunities in oil-producing and oil-importing markets alike.