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In 2025, the majority of oil worldwide was produced in the Middle East, which accounted for around **** percent of the global output that year. Home to large hydrocarbon reserves, many of the world’s largest petrosates are located here. North America was the second largest oil producer, followed by the Commonwealth of Independent States. 

Global crude oil production

In 2024, global oil production stood at almost ** million barrels per day. Amongst the various crude oil producing countries in the world, the United States came in first, accounting for nearly ** percent of global oil production in 2022. In comparison, Algeria was in the last position, accounting for only *** percent of the global oil production.

Global oil companies

Saudi Aramco, the state-owned petroleum and natural gas company in Saudi Arabia, is one of the top oil companies in terms of daily crude oil production, with a daily production volume of nearly **** million barrels per day. In contrast, Sinopec, a Chinese oil company, which largely focuses on refining, reported a daily production of ** barrels. Due in part to its position as refining leader, Sinopec claimed the highest revenue among global oil and gas companies, reaching nearly *** billion U.S. dollars in 2023.