Nota Destacada

The 10 largest oil producers in the world

The world’s top 10 oil producers in 2019 were led by the United States, Saudi Arabia and Russia, according to the Energy Administration.

The United States produced 12,232 million barrels per day (mdb/d); Russia (10,847) and Saudi Arabia (9,826).

Other major oil producers were: Iraq, Iran, China, Canada, the United Arab Emirates, Kuwait and Brazil.

Regarding 2020, preliminary data from the Organization of the Petroleum Exporting Countries (OPEC) indicate that the world production of liquids in April decreased by 0.18 mb/d, to an average of 99.46 mb/d, compared to the previous month.

World oil supply will drop considerably in May under the agreement signed by the countries participating in the so-called Declaration of Cooperation (a pact between OPEC and non-OPEC oil-producing countries), as well as the closings announced by other countries, mainly in North America.

Oil producers

OPEC estimates that production of non-OPEC liquids in April, including OPEC LGNs and unconventional liquids, has decreased by 1.98 mb/d, month-over-month, to an average of 69.05 mb/d, lower at 0.29 mb/d in its annual comparison.

Preliminary drops in production during April 2020 were mainly driven by the United States, Canada, Ecuador, Brazil and Kazakhstan.

OPEC and world oil supply

OPEC’s share of crude oil in total global production increased 1.9 pp, to 30.6% in April compared to the previous month.