Top 10 Crude Oil Producing Countries in 2024

TEMPO.CO, Jakarta - Crude oil remains the most essential energy source worldwide, albeit some experts push for innovations in new and renewable energy. Fuel remains necessary for various aspects of life, including powering military vehicles, aircraft, and even firearms. 

Global Firepower, a website that tracks defense-related data, ranked countries based on their oil production. Here are the top ten crude oil-producing countries in 2024, listed from lowest to highest:

10. Kuwait

Kuwait Foreign Petroleum Exploration Company K.S.C (KUFPEC), based in Kuwait, discovered a new oil and gas reserve off the shore of Natuna in February 2022. Kuwait could produce a total of 2,720,500 barrels of oil per day, but unfortunately, 605 to 732 of its oil wells were burned by Iraqi forces in 1991.

9. Iran

Iran recorded oil production of 3,450,000 barrels/day. In 2019, Iranian President Hassan Rouhani announced the discovery of a new oil field containing an estimated 53 billion barrels of crude oil.

8. Brazil

Brazil has the highest economic status due to its oil production, which reaches 3,630,000 barrels/day. Brazil which borders Argentina manages offshore oil reserves and basins led by Petroleo Brasileiro SA (Petrobras).

7. United Arab Emirates (UAE)

The United Arab Emirates is the largest crude oil producer in the Organization of Petroleum Exporting Countries (OPEC), capable of producing 3,770,000 barrels/day of crude oil. The International Energy Agency’s (IEA) Oil Market Report stated that jet fuel shipments in 2023 jumped by 90 percent compared to 2019.

6. Iraq

Despite ongoing political conflict since 1980, Iraq remains on the list of the 10 largest oil-producing countries in the world in 2024, with its production reaching 4,162,000 barrels/day. Its main energy company, the Iraq Petroleum Company (IPC), has been extracting crude oil from the earth since 1925.

5. China

China has always been at the top in various aspects and commodities, including oil production. One of its drilling centers is located in Xinjiang province, which is managed by PetroChina. China's oil production was reported to be 4,715,000 barrels/day.

4. Canada

Canada produced about 5,500,000 barrels of crude oil per day, contributing to six percent of the global oil demand. The country, which borders the Pacific Ocean, began exploring oil and gas in 1858 under the leadership of James Miller Williams.

3. Russia

Even as the Russian-Ukrainian invasion heats up, the former Soviet Union state could produce 10,750,000 barrels/day of crude oil. Its energy company Rosneft even announced a new field in the Pechora Sea, Arctic Ocean, in July 2022.

2. Saudi Arabia

Led by King Salman, Saudi Arabia’s crude oil production was estimated to reach 10,815,700 barrels/day in 2024, contributing to 12.2% of oil worldwide. Ghawar is one of the oil drilling points located in Al Hasa Province, about 100 kilometers from Dhahran City.

1. United States

The superpower state remains the leader in crude oil production, with 18,000,000 barrels/day. It also excels in various categories, including materials, finance, technology, medicine, telecommunications, and aerospace.

NIA HEPPY | MELYNDA DWI PUSPITA

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