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Here’s a Comprehensive Look at Countries With Crude Oil Reserves And Production Worldwide

Victor KakuluBy No Comments2 Mins Read

Major Crude Oil Producing Countries (Top Producers by Volume)

RankCountryRegionNotes
1United StatesNorth AmericaWorld’s largest producer (includes shale oil)
2Saudi ArabiaMiddle EastLeading OPEC member
3RussiaEurasiaMajor global supplier, especially to Europe/Asia
4CanadaNorth AmericaHeavy oil from oil sands
5IraqMiddle EastOne of the oldest oil producers
6United Arab Emirates (UAE)Middle EastKey member of OPEC
7IranMiddle EastSanctions affect exports, but reserves are vast
8ChinaAsiaHigh demand and domestic production
9BrazilSouth AmericaDeepwater offshore oil fields
10KuwaitMiddle EastRich in reserves, small population
11MexicoNorth AmericaMajor state oil company (PEMEX)
12VenezuelaSouth AmericaLargest proven reserves, but low production due to crisis
13NigeriaAfricaLargest producer in Africa, member of OPEC
14KazakhstanCentral AsiaRapidly growing production
15NorwayEuropeMajor offshore oil fields in the North Sea

Other Notable Oil-Producing Countries

These countries also produce significant volumes of crude oil:

  • Libya (Africa)
  • Angola (Africa)
  • Algeria (Africa)
  • Qatar (Middle East)
  • Azerbaijan (Caucasus)
  • Indonesia (Southeast Asia)
  • Colombia (South America)
  • Egypt (Africa)
  • Malaysia (Asia-Pacific)
  • South Sudan (Africa)
  • Argentina (South America)
  • Equatorial Guinea (Africa)
  • Trinidad and Tobago (Caribbean)

Largest Proven Oil Reserves (Top 10 as of 2024)

CountryRegionApprox. Reserves (billion barrels)
1. VenezuelaSouth America303 billion
2. Saudi ArabiaMiddle East267 billion
3. CanadaNorth America170 billion
4. IranMiddle East157 billion
5. IraqMiddle East145 billion
6. RussiaEurasia108 billion
7. KuwaitMiddle East101 billion
8. UAEMiddle East98 billion
9. USANorth America69 billion
10. LibyaAfrica48 billion

Here’s a comprehensive look at countries with crude oil reserves and production worldwide

Major Crude Oil Producing Countries (Top Producers by Volume)

RankCountryRegionNotes
1United StatesNorth AmericaWorld’s largest producer (includes shale oil)
2Saudi ArabiaMiddle EastLeading OPEC member
3RussiaEurasiaMajor global supplier, especially to Europe/Asia
4CanadaNorth AmericaHeavy oil from oil sands
5IraqMiddle EastOne of the oldest oil producers
6United Arab Emirates (UAE)Middle EastKey member of OPEC
7IranMiddle EastSanctions affect exports, but reserves are vast
8ChinaAsiaHigh demand and domestic production
9BrazilSouth AmericaDeepwater offshore oil fields
10KuwaitMiddle EastRich in reserves, small population
11MexicoNorth AmericaMajor state oil company (PEMEX)
12VenezuelaSouth AmericaLargest proven reserves, but low production due to crisis
13NigeriaAfricaLargest producer in Africa, member of OPEC
14KazakhstanCentral AsiaRapidly growing production
15NorwayEuropeMajor offshore oil fields in the North Sea

Other Notable Oil-Producing Countries

These countries also produce significant volumes of crude oil:

  • Libya (Africa)
  • Angola (Africa)
  • Algeria (Africa)
  • Qatar (Middle East)
  • Azerbaijan (Caucasus)
  • Indonesia (Southeast Asia)
  • Colombia (South America)
  • Egypt (Africa)
  • Malaysia (Asia-Pacific)
  • South Sudan (Africa)
  • Argentina (South America)
  • Equatorial Guinea (Africa)
  • Trinidad and Tobago (Caribbean)

Largest Proven Oil Reserves (Top 10 as of 2024)

CountryRegionApprox. Reserves (billion barrels)
1. VenezuelaSouth America303 billion
2. Saudi ArabiaMiddle East267 billion
3. CanadaNorth America170 billion
4. IranMiddle East157 billion
5. IraqMiddle East145 billion
6. RussiaEurasia108 billion
7. KuwaitMiddle East101 billion
8. UAEMiddle East98 billion
9. USANorth America69 billion
10. LibyaAfrica48 billion
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