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.ubermenu-submenu-retractor-top:not(.ubermenu-submenu-retractor-top-2) .ubermenu-column:nth-of-type(2n+1){ clear:none; } .ubermenu.ubermenu-responsive .ubermenu-submenu-retractor-top:not(.ubermenu-submenu-retractor-top-2) .ubermenu-column:nth-of-type(2n+2){ clear:both; } .ubermenu-responsive-single-column-subs .ubermenu-submenu .ubermenu-item { float: none; clear: both; width: 100%; min-width: 100%; } .ubermenu.ubermenu-responsive .ubermenu-tabs, .ubermenu.ubermenu-responsive .ubermenu-tabs-group, .ubermenu.ubermenu-responsive .ubermenu-tab, .ubermenu.ubermenu-responsive .ubermenu-tab-content-panel{ /** TABS SHOULD BE 100% ACCORDION */ width:100%; min-width:100%; max-width:100%; left:0; } .ubermenu.ubermenu-responsive .ubermenu-tabs, .ubermenu.ubermenu-responsive .ubermenu-tab-content-panel{ min-height:0 !important;/* Override Inline Style from JS */ } .ubermenu.ubermenu-responsive .ubermenu-tabs{ z-index:15; } .ubermenu.ubermenu-responsive .ubermenu-tab-content-panel{ z-index:20; } /* Tab Layering */ .ubermenu-responsive .ubermenu-tab{ position:relative; } .ubermenu-responsive .ubermenu-tab.ubermenu-active{ position:relative; z-index:20; } .ubermenu-responsive .ubermenu-tab > .ubermenu-target{ border-width:0 0 1px 0; } .ubermenu-responsive.ubermenu-sub-indicators .ubermenu-tabs > .ubermenu-tabs-group > .ubermenu-tab.ubermenu-has-submenu-drop > .ubermenu-target > .ubermenu-sub-indicator{ transform:rotate(0); right:10px; left:auto; } .ubermenu-responsive .ubermenu-tabs > .ubermenu-tabs-group > .ubermenu-tab > .ubermenu-tab-content-panel{ top:auto; border-width:1px; } .ubermenu-responsive .ubermenu-tab-layout-bottom > .ubermenu-tabs-group{ /*position:relative;*/ } .ubermenu-reponsive .ubermenu-item-level-0 > .ubermenu-submenu-type-stack{ /* Top Level Stack Columns */ position:relative; } .ubermenu-responsive .ubermenu-submenu-type-stack .ubermenu-column, .ubermenu-responsive .ubermenu-submenu-type-stack .ubermenu-column-auto{ /* Stack Columns */ width:100%; max-width:100%; } .ubermenu-responsive .ubermenu-item-mini{ /* Mini items */ min-width:0; width:auto; float:left; clear:none !important; } .ubermenu-responsive .ubermenu-item.ubermenu-item-mini > a.ubermenu-target{ padding-left:20px; padding-right:20px; } .ubermenu-responsive .ubermenu-item.ubermenu-hide-mobile{ /* Hiding items */ display:none !important; } .ubermenu-responsive.ubermenu-hide-bkgs .ubermenu-submenu.ubermenu-submenu-bkg-img{ /** Hide Background Images in Submenu */ background-image:none; } .ubermenu.ubermenu-responsive .ubermenu-item-level-0.ubermenu-item-mini{ min-width:0; width:auto; } .ubermenu-vertical .ubermenu-item.ubermenu-item-level-0{ width:100%; } .ubermenu-vertical.ubermenu-sub-indicators .ubermenu-item-level-0.ubermenu-item-has-children > .ubermenu-target > .ubermenu-sub-indicator{ right:10px; left:auto; transform:rotate(0); } .ubermenu-vertical .ubermenu-item.ubermenu-item-level-0.ubermenu-relative.ubermenu-active > .ubermenu-submenu-drop.ubermenu-submenu-align-vertical_parent_item{ top:auto; } .ubermenu.ubermenu-responsive .ubermenu-tabs{ position:static; } /* Tabs on Mobile with mouse (but not click) - leave space to hover off */ .ubermenu:not(.ubermenu-is-mobile):not(.ubermenu-submenu-indicator-closes) .ubermenu-submenu .ubermenu-tab[data-ubermenu-trigger="mouseover"] .ubermenu-tab-content-panel, .ubermenu:not(.ubermenu-is-mobile):not(.ubermenu-submenu-indicator-closes) .ubermenu-submenu .ubermenu-tab[data-ubermenu-trigger="hover_intent"] .ubermenu-tab-content-panel{ margin-left:6%; width:94%; min-width:94%; } /* Sub indicator close visibility */ .ubermenu.ubermenu-submenu-indicator-closes .ubermenu-active > .ubermenu-target > .ubermenu-sub-indicator-close{ display:block; display: flex; align-items: center; justify-content: center; } .ubermenu.ubermenu-submenu-indicator-closes .ubermenu-active > .ubermenu-target > .ubermenu-sub-indicator{ display:none; } .ubermenu .ubermenu-tabs .ubermenu-tab-content-panel{ box-shadow: 0 5px 10px rgba(0,0,0,.075); } /* When submenus and items go full width, move items back to appropriate positioning */ .ubermenu .ubermenu-submenu-rtl { direction: ltr; } /* Fixed position mobile menu */ .ubermenu.ubermenu-mobile-modal{ position:fixed; z-index:9999999; opacity:1; top:0; left:0; width:100%; width:100vw; max-width:100%; max-width:100vw; height:100%; height:calc(100vh - calc(100vh - 100%)); height:-webkit-fill-available; max-height:calc(100vh - calc(100vh - 100%)); max-height:-webkit-fill-available; border:none; box-sizing:border-box; display:flex; flex-direction:column; justify-content:flex-start; overflow-y:auto !important; /* for non-accordion mode */ overflow-x:hidden !important; overscroll-behavior: contain; transform:scale(1); transition-duration:.1s; transition-property: all; } .ubermenu.ubermenu-mobile-modal.ubermenu-mobile-accordion.ubermenu-interaction-press{ overflow-y:hidden !important; } .ubermenu.ubermenu-mobile-modal.ubermenu-responsive-collapse{ overflow:hidden !important; opacity:0; transform:scale(.9); visibility:hidden; } .ubermenu.ubermenu-mobile-modal .ubermenu-nav{ flex:1; overflow-y:auto !important; overscroll-behavior: contain; } .ubermenu.ubermenu-mobile-modal .ubermenu-item-level-0{ margin:0; } .ubermenu.ubermenu-mobile-modal .ubermenu-mobile-close-button{ border:none; background:none; border-radius:0; padding:1em; color:inherit; display:inline-block; text-align:center; font-size:14px; } .ubermenu.ubermenu-mobile-modal .ubermenu-mobile-footer .ubermenu-mobile-close-button{ width: 100%; display: flex; align-items: center; justify-content: center; } .ubermenu.ubermenu-mobile-modal .ubermenu-mobile-footer .ubermenu-mobile-close-button .ubermenu-icon-essential, .ubermenu.ubermenu-mobile-modal .ubermenu-mobile-footer .ubermenu-mobile-close-button .fas.fa-times{ margin-right:.2em; } /* Header/Footer Mobile content */ .ubermenu .ubermenu-mobile-header, .ubermenu .ubermenu-mobile-footer{ display:block; text-align:center; color:inherit; } /* Accordion submenus mobile (single column tablet) */ .ubermenu.ubermenu-responsive-single-column.ubermenu-mobile-accordion.ubermenu-interaction-press .ubermenu-item > .ubermenu-submenu-drop, .ubermenu.ubermenu-responsive-single-column.ubermenu-mobile-accordion.ubermenu-interaction-press .ubermenu-tab > .ubermenu-tab-content-panel{ box-sizing:border-box; border-left:none; border-right:none; box-shadow:none; } .ubermenu.ubermenu-responsive-single-column.ubermenu-mobile-accordion.ubermenu-interaction-press .ubermenu-item.ubermenu-active > .ubermenu-submenu-drop, .ubermenu.ubermenu-responsive-single-column.ubermenu-mobile-accordion.ubermenu-interaction-press .ubermenu-tab.ubermenu-active > .ubermenu-tab-content-panel{ position:static; } /* Accordion indented - remove borders and extra spacing from headers */ .ubermenu.ubermenu-mobile-accordion-indent .ubermenu-submenu.ubermenu-submenu-drop, .ubermenu.ubermenu-mobile-accordion-indent .ubermenu-submenu .ubermenu-item-header.ubermenu-has-submenu-stack > .ubermenu-target{ border:none; } .ubermenu.ubermenu-mobile-accordion-indent .ubermenu-submenu .ubermenu-item-header.ubermenu-has-submenu-stack > .ubermenu-submenu-type-stack{ padding-top:0; } /* Accordion dropdown indentation padding */ .ubermenu.ubermenu-mobile-accordion-indent .ubermenu-submenu-drop .ubermenu-submenu-drop .ubermenu-item > .ubermenu-target, .ubermenu.ubermenu-mobile-accordion-indent .ubermenu-submenu-drop .ubermenu-tab-content-panel .ubermenu-item > .ubermenu-target{ padding-left:calc( var(--ubermenu-accordion-indent) * 2 ); } .ubermenu.ubermenu-mobile-accordion-indent .ubermenu-submenu-drop .ubermenu-submenu-drop .ubermenu-submenu-drop .ubermenu-item > .ubermenu-target, .ubermenu.ubermenu-mobile-accordion-indent .ubermenu-submenu-drop .ubermenu-tab-content-panel .ubermenu-tab-content-panel .ubermenu-item > .ubermenu-target{ padding-left:calc( var(--ubermenu-accordion-indent) * 3 ); } .ubermenu.ubermenu-mobile-accordion-indent .ubermenu-submenu-drop .ubermenu-submenu-drop .ubermenu-submenu-drop .ubermenu-submenu-drop .ubermenu-item > .ubermenu-target, .ubermenu.ubermenu-mobile-accordion-indent .ubermenu-submenu-drop .ubermenu-tab-content-panel .ubermenu-tab-content-panel .ubermenu-tab-content-panel .ubermenu-item > .ubermenu-target{ padding-left:calc( var(--ubermenu-accordion-indent) * 4 ); } /* Reverse Accordion dropdown indentation padding */ .rtl .ubermenu.ubermenu-mobile-accordion-indent .ubermenu-submenu-drop .ubermenu-submenu-drop .ubermenu-item > .ubermenu-target, .rtl .ubermenu.ubermenu-mobile-accordion-indent .ubermenu-submenu-drop .ubermenu-tab-content-panel .ubermenu-item > .ubermenu-target{ padding-left:0; padding-right:calc( var(--ubermenu-accordion-indent) * 2 ); } .rtl .ubermenu.ubermenu-mobile-accordion-indent .ubermenu-submenu-drop .ubermenu-submenu-drop .ubermenu-submenu-drop .ubermenu-item > .ubermenu-target, .rtl .ubermenu.ubermenu-mobile-accordion-indent .ubermenu-submenu-drop .ubermenu-tab-content-panel .ubermenu-tab-content-panel .ubermenu-item > .ubermenu-target{ padding-left:0; padding-right:calc( var(--ubermenu-accordion-indent) * 3 ); } .rtl .ubermenu.ubermenu-mobile-accordion-indent .ubermenu-submenu-drop .ubermenu-submenu-drop .ubermenu-submenu-drop .ubermenu-submenu-drop .ubermenu-item > .ubermenu-target, .rtl .ubermenu.ubermenu-mobile-accordion-indent .ubermenu-submenu-drop .ubermenu-tab-content-panel .ubermenu-tab-content-panel .ubermenu-tab-content-panel .ubermenu-item > .ubermenu-target{ padding-left:0; padding-right:calc( var(--ubermenu-accordion-indent) * 4 ); } .ubermenu-responsive-toggle{ display:block; } } @media screen and (max-width: 480px){ .ubermenu.ubermenu-responsive .ubermenu-item-level-0{ width:100%; } .ubermenu.ubermenu-responsive .ubermenu-column, .ubermenu.ubermenu-responsive .ubermenu-column-auto{ min-width:100%; } .ubermenu .ubermenu-autocolumn:not(:first-child), .ubermenu .ubermenu-autocolumn:not(:first-child) .ubermenu-submenu-type-stack{ padding-top:0; } .ubermenu .ubermenu-autocolumn:not(:last-child), .ubermenu .ubermenu-autocolumn:not(:last-child) .ubermenu-submenu-type-stack{ padding-bottom:0; } .ubermenu .ubermenu-autocolumn > .ubermenu-submenu-type-stack > .ubermenu-item-normal:first-child{ margin-top:0; } /* Accordion submenus mobile */ .ubermenu.ubermenu-responsive.ubermenu-mobile-accordion.ubermenu-interaction-press .ubermenu-item > .ubermenu-submenu-drop, .ubermenu.ubermenu-responsive.ubermenu-mobile-accordion.ubermenu-interaction-press .ubermenu-tab > .ubermenu-tab-content-panel{ box-shadow:none; box-sizing:border-box; border-left:none; border-right:none; } .ubermenu.ubermenu-responsive.ubermenu-mobile-accordion.ubermenu-interaction-press .ubermenu-item.ubermenu-active > .ubermenu-submenu-drop, .ubermenu.ubermenu-responsive.ubermenu-mobile-accordion.ubermenu-interaction-press .ubermenu-tab.ubermenu-active > .ubermenu-tab-content-panel{ position:static; } } /** UberMenu Custom Menu Styles (Customizer) **/ /* main */ .ubermenu-main { background-color:#000000; background:-webkit-gradient(linear,left top,left bottom,from(#000000),to(#000000)); background:-webkit-linear-gradient(top,#000000,#000000); background:-moz-linear-gradient(top,#000000,#000000); background:-ms-linear-gradient(top,#000000,#000000); background:-o-linear-gradient(top,#000000,#000000); background:linear-gradient(top,#000000,#000000); } .ubermenu-main .ubermenu-item-level-0 > .ubermenu-target { font-size:16px; text-transform:none; color:#ffffff; border:none; -webkit-box-shadow:inset 1px 0 0 0 rgba(255,255,255,0); -moz-box-shadow:inset 1px 0 0 0 rgba(255,255,255,0); -o-box-shadow:inset 1px 0 0 0 rgba(255,255,255,0); box-shadow:inset 1px 0 0 0 rgba(255,255,255,0); padding-left:11px; padding-right:11px; } .ubermenu-main .ubermenu-nav .ubermenu-item.ubermenu-item-level-0 > .ubermenu-target { font-weight:normal; } .ubermenu.ubermenu-main .ubermenu-item-level-0:hover > .ubermenu-target, .ubermenu-main .ubermenu-item-level-0.ubermenu-active > .ubermenu-target { color:#00548d; } .ubermenu-main .ubermenu-item-level-0.ubermenu-current-menu-item > .ubermenu-target, .ubermenu-main .ubermenu-item-level-0.ubermenu-current-menu-parent > .ubermenu-target, .ubermenu-main .ubermenu-item-level-0.ubermenu-current-menu-ancestor > .ubermenu-target { color:#f29d27; } .ubermenu-main .ubermenu-item.ubermenu-item-level-0 > .ubermenu-highlight { color:#00548d; background:#f4f4f4; } .ubermenu-main .ubermenu-item-level-0.ubermenu-active > .ubermenu-target,.ubermenu-main .ubermenu-item-level-0:hover > .ubermenu-target { -webkit-box-shadow:inset 1px 0 0 0 rgba(255,255,255,0); -moz-box-shadow:inset 1px 0 0 0 rgba(255,255,255,0); -o-box-shadow:inset 1px 0 0 0 rgba(255,255,255,0); box-shadow:inset 1px 0 0 0 rgba(255,255,255,0); } .ubermenu-main .ubermenu-item-level-0 > .ubermenu-target, .ubermenu-main .ubermenu-item-level-0 > .ubermenu-custom-content.ubermenu-custom-content-padded { padding-top:14px; padding-bottom:14px; } .ubermenu-main.ubermenu-sub-indicators .ubermenu-item-level-0.ubermenu-has-submenu-drop > .ubermenu-target:not(.ubermenu-noindicator) { padding-right:26px; } .ubermenu-main.ubermenu-sub-indicators .ubermenu-item-level-0.ubermenu-has-submenu-drop > .ubermenu-target.ubermenu-noindicator { padding-right:11px; } .ubermenu-main .ubermenu-item-normal > .ubermenu-target { color:#000000; font-size:14px; } .ubermenu.ubermenu-main .ubermenu-item-normal > .ubermenu-target:hover, .ubermenu.ubermenu-main .ubermenu-item-normal.ubermenu-active > .ubermenu-target { color:#00548d; background-color:#e8e8e8; } .ubermenu-main .ubermenu-item-normal.ubermenu-current-menu-item > .ubermenu-target { color:#f29d27; } .ubermenu-main .ubermenu-submenu-type-flyout > .ubermenu-item-normal > .ubermenu-target { border-bottom:1px solid #cccccc; } .ubermenu.ubermenu-main .ubermenu-tabs 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ubermenu-item-level-0 ubermenu-column ubermenu-column-auto"><a class="ubermenu-target ubermenu-item-layout-default ubermenu-item-layout-text_only" href="https://web.archive.org/web/20231211083801/https://www.arescotx.com/contact-us/" tabindex="0"><span class="ubermenu-target-title ubermenu-target-text">Contact</span></a></li></ul></nav>  </div> </div> </div> </div><div id="rotatortwo"> <div class="container"> <div class="row"> <div class="col-md-12 margintoptwo"> <h1>Who Were the Top Oil Producing Countries in 2022?</h1> </div> </div> </div> </div> <script type="text/javascript"> var imgCount = 8; var dir = 'https://web.archive.org/web/20231211083801/https://www.arescotx.com/bgimages/'; var randomCount = Math.round(Math.random() * (imgCount - 1)) + 1; var images = new Array images[1] = "01.jpg", images[2] = "02.jpg", images[3] = "03.jpg", images[4] = "04.jpg", images[5] = "05.jpg", images[6] = "06.jpg", images[7] = "07.jpg", images[8] = "08.jpg", document.getElementById("rotatortwo").style.backgroundImage = "url(" + dir + images[randomCount] + ")"; </script> <div class="container content"> <div class="row"> <div class="col-lg-9 col-md-9 padright"> <p style="font-size:11px;margin-top:30px;">Tuesday, May 9th, 2023 and is filed under <a href="https://web.archive.org/web/20231211083801/https://www.arescotx.com/category/oil-and-gas-current-events/" rel="category tag">Oil and Gas Current Events</a>, <a href="https://web.archive.org/web/20231211083801/https://www.arescotx.com/category/oil-and-gas-interesting-facts/" rel="category tag">Oil and Gas Fun Facts</a></p> <p>As of 2022, the global demand for oil remains high despite the increasing push by western countries to use more renewable energy sources. Oil is a vital component of the global economy, and the countries with the largest oil reserves are some of the wealthiest nations in the world. In this article, we will discuss the eight top oil producing countries in the world in 2022, ranked in order from highest to lowest.</p> <h2>Top Oil Producing Countries – Methodology</h2> <p>The methodology in determining the top oil producing countries in the world was based on crude oil production from January 2022 through December 2022 from data posted on <a href="https://web.archive.org/web/20231211083801/https://tradingeconomics.com/country-list/crude-oil-production">Trading Economics</a> and on <a href="https://web.archive.org/web/20231211083801/https://www.yahoo.com/now/top-20-oil-importing-countries-174751106.html">Yahoo News</a>. This list is based on crude oil production only and the production figures do not include other petroleum liquids.</p> <p><a href="https://web.archive.org/web/20231211083801/https://www.arescotx.com/wp-content/uploads/top-oil-producing-countries.jpg" data-rel="lightbox-image-0" data-rl_title="" data-rl_caption="" title=""><img fetchpriority="high" decoding="async" class="aligncenter size-large wp-image-27711" src="https://web.archive.org/web/20231211083801im_/https://www.arescotx.com/wp-content/uploads/top-oil-producing-countries-1024x576.jpg" alt="Top Oil Producing Countries" width="1024" height="576" srcset="https://web.archive.org/web/20231211083801im_/https://www.arescotx.com/wp-content/uploads/top-oil-producing-countries-1024x576.jpg 1024w, https://web.archive.org/web/20231211083801im_/https://www.arescotx.com/wp-content/uploads/top-oil-producing-countries-300x169.jpg 300w, https://web.archive.org/web/20231211083801im_/https://www.arescotx.com/wp-content/uploads/top-oil-producing-countries-768x432.jpg 768w, https://web.archive.org/web/20231211083801im_/https://www.arescotx.com/wp-content/uploads/top-oil-producing-countries.jpg 1200w" sizes="(max-width: 1024px) 100vw, 1024px"/></a></p> <h3 style="padding-left: 40px;">1. United States – 11.9 million bpd</h3> <p>The United States was the top oil producing country in the world in 2022, with daily production of approximately <a href="https://web.archive.org/web/20231211083801/https://www.eia.gov/todayinenergy/detail.php?id=55299#:~:text=In%202022%2C%20U.S.%20crude%20oil,estimated%2011.9%20million%20b%2Fd.">11.9 million barrels per day</a> (bpd). The U.S. Energy Information Administration (EIA) estimates that U.S. oil production in 2023 will increase to <a href="https://web.archive.org/web/20231211083801/https://www.eia.gov/todayinenergy/detail.php?id=55299#:~:text=In%202022%2C%20U.S.%20crude%20oil,estimated%2011.9%20million%20b%2Fd.">12.4 million barrels per day</a> and increase even further in 2024 to <a href="https://web.archive.org/web/20231211083801/https://www.eia.gov/todayinenergy/detail.php?id=55299#:~:text=In%202022%2C%20U.S.%20crude%20oil,estimated%2011.9%20million%20b%2Fd.">12.8 million b/d</a>. If these predictions are accurate, oil production in the U.S. would exceed pre-pandemic production levels as well as the previous U.S. oil production record set in 2019 of <a href="https://web.archive.org/web/20231211083801/https://www.eia.gov/todayinenergy/detail.php?id=55299#:~:text=In%202022%2C%20U.S.%20crude%20oil,estimated%2011.9%20million%20b%2Fd.">12.3 million b/d</a>. The United States is predicted to continue to be the largest oil producer in the world in the coming years.</p> <p>U.S. oil production has continued to increase in recent years, largely attributed to the development of shale oil and gas resources, and the implementation of <a href="https://web.archive.org/web/20231211083801/https://www.arescotx.com/microwave-technology-the-new-fracking/">new technologies</a>. The majority of oil production in the United States comes from the states of Texas, North Dakota, and New Mexico. The top production areas in these states are the Permian Basin (TX & NM), Eagle Ford Shale (TX), and the Bakken Shale (ND) regions.</p> <p><a href="https://web.archive.org/web/20231211083801/https://www.arescotx.com/about-aresco/oil-investing-tax-shelter/"><img decoding="async" class="aligncenter size-large wp-image-27717" src="https://web.archive.org/web/20231211083801im_/https://www.arescotx.com/wp-content/uploads/tax-deductible-investments-2023-1024x416.jpg" alt="Tax Deductible Investments 2023" width="1024" height="416" srcset="https://web.archive.org/web/20231211083801im_/https://www.arescotx.com/wp-content/uploads/tax-deductible-investments-2023-1024x416.jpg 1024w, https://web.archive.org/web/20231211083801im_/https://www.arescotx.com/wp-content/uploads/tax-deductible-investments-2023-300x122.jpg 300w, https://web.archive.org/web/20231211083801im_/https://www.arescotx.com/wp-content/uploads/tax-deductible-investments-2023-768x312.jpg 768w, https://web.archive.org/web/20231211083801im_/https://www.arescotx.com/wp-content/uploads/tax-deductible-investments-2023-1536x624.jpg 1536w, https://web.archive.org/web/20231211083801im_/https://www.arescotx.com/wp-content/uploads/tax-deductible-investments-2023.jpg 1567w" sizes="(max-width: 1024px) 100vw, 1024px"/></a></p> <h3 style="padding-left: 40px;">2. Russia – 10.75 million bpd</h3> <p>Russia was the second-largest oil producer in the world, with crude oil production of approximately <a href="https://web.archive.org/web/20231211083801/https://www.insidermonkey.com/blog/top-5-oil-producing-countries-in-the-world-1137123/?singlepage=1">10.75 million bpd in 2022</a>. The country of Russia has vast oil reserves, and its oil industry plays a crucial role in the country’s economy. Most of Russia’s oil production comes from its western Siberian region.</p> <p>Russia’s oil production has been affected by various factors in recent years, including fluctuations in global oil prices, economic sanctions imposed by the US and EU, the sabotaged Nord Stream pipeline, and the COVID-19 pandemic. However, despite these challenges, Russia has continued to produce large volumes of oil and was the number two producer of crude oil in the world in 2022.</p> <h3 style="padding-left: 40px;">3. Saudi Arabia – 10.59 million bpd</h3> <p>Saudi Arabia was the third-largest oil producer in the world, with production of approximately <a href="https://web.archive.org/web/20231211083801/https://www.insidermonkey.com/blog/top-5-oil-producing-countries-in-the-world-1137123/?singlepage=1">10.59 million bpd in 2022</a>. The country of Saudi Arabia has the <a href="https://web.archive.org/web/20231211083801/https://en.wikipedia.org/wiki/Saudi_Aramco">second-largest proven oil reserves</a> in the world and is a founding member of the Organization of the Petroleum Exporting Countries (OPEC), which is a group of countries that work together to influence the global oil market.</p> <p>The oil industry in Saudi Arabia is dominated by the now public company Saudi Aramco, the largest oil company in the world. In 2020, Saudi Aramco raised its initial IPO of <a href="https://web.archive.org/web/20231211083801/https://www.investopedia.com/articles/investing/011215/top-10-largest-global-ipos-all-time.asp">$25.6 billion</a> to a record <a href="https://web.archive.org/web/20231211083801/https://www.reuters.com/article/us-saudi-aramco-stocks/saudi-aramco-raises-ipo-to-record-29-4-billion-by-over-allotment-of-shares-idUSKBN1ZB03D">$29.4 billion</a> by exercising its “greenshoe option” to sell an additional 450 million shares of stock. This resulted in the largest IPO in world history.</p> <p><a href="https://web.archive.org/web/20231211083801/https://www.arescotx.com/wp-content/uploads/top-oil-producing-countries-2022-chart.jpg" data-rel="lightbox-image-1" data-rl_title="" data-rl_caption="" title=""><img decoding="async" class="aligncenter size-full wp-image-27715" src="https://web.archive.org/web/20231211083801im_/https://www.arescotx.com/wp-content/uploads/top-oil-producing-countries-2022-chart.jpg" alt="Top Oil Producing Countries" width="1024" height="647" srcset="https://web.archive.org/web/20231211083801im_/https://www.arescotx.com/wp-content/uploads/top-oil-producing-countries-2022-chart.jpg 1024w, https://web.archive.org/web/20231211083801im_/https://www.arescotx.com/wp-content/uploads/top-oil-producing-countries-2022-chart-300x190.jpg 300w, https://web.archive.org/web/20231211083801im_/https://www.arescotx.com/wp-content/uploads/top-oil-producing-countries-2022-chart-768x485.jpg 768w" sizes="(max-width: 1024px) 100vw, 1024px"/></a></p> <h3 style="padding-left: 40px;">4. Iraq – 4.48 million bpd</h3> <p>Iraq was the fourth-largest oil producer in the world, with production of approximately <a href="https://web.archive.org/web/20231211083801/https://www.insidermonkey.com/blog/top-5-oil-producing-countries-in-the-world-1137123/2/">4.48 million bpd</a> in 2022. The small country of Iraq has the fifth-largest proven oil reserves in the world at approximately <a href="https://web.archive.org/web/20231211083801/https://www.eia.gov/international/analysis/country/IRQ">145 billion barrels</a>. Interestingly, the majority of Iraq’s known oil fields are undeveloped.</p> <p>According to the IMF, crude oil exports account for an estimated <a href="https://web.archive.org/web/20231211083801/https://www.eia.gov/international/analysis/country/IRQ">92% of revenue</a> taken in by the government of Iraq. Iraq’s oil revenue in 2021 was estimated to be <a href="https://web.archive.org/web/20231211083801/https://www.eia.gov/international/analysis/country/IRQ">$75 billion</a>.</p> <p><a href="https://web.archive.org/web/20231211083801/https://www.arescotx.com/investing-in-oil-wells/"><img loading="lazy" decoding="async" class="aligncenter wp-image-27719 size-large" src="https://web.archive.org/web/20231211083801im_/https://www.arescotx.com/wp-content/uploads/invest-in-oil-wells-2023-aresco-1024x488.jpg" alt="Invest in Oil Wells in 2023" width="1024" height="488" srcset="https://web.archive.org/web/20231211083801im_/https://www.arescotx.com/wp-content/uploads/invest-in-oil-wells-2023-aresco-1024x488.jpg 1024w, https://web.archive.org/web/20231211083801im_/https://www.arescotx.com/wp-content/uploads/invest-in-oil-wells-2023-aresco-300x143.jpg 300w, https://web.archive.org/web/20231211083801im_/https://www.arescotx.com/wp-content/uploads/invest-in-oil-wells-2023-aresco-768x366.jpg 768w, https://web.archive.org/web/20231211083801im_/https://www.arescotx.com/wp-content/uploads/invest-in-oil-wells-2023-aresco.jpg 1200w" sizes="(max-width: 1024px) 100vw, 1024px"/></a></p> <h3 style="padding-left: 40px;">5. China – 4.1 million bpd</h3> <p>The country of China was the fifth-largest oil producer in the world, with production of approximately <a href="https://web.archive.org/web/20231211083801/https://www.insidermonkey.com/blog/top-5-oil-producing-countries-in-the-world-1137123/">4.1 million bpd</a> in 2022. China has been increasing its oil production in recent years, primarily to reduce its dependence on oil imports. China’s oil production comes from its oil fields in the northeast region of the country and in the South China Sea.</p> <p>While China was the fifth-largest oil producer of crude oil in 2022, China is predicted to import <a href="https://web.archive.org/web/20231211083801/https://www.reuters.com/markets/commodities/chinas-2023-crude-oil-imports-set-62-rise-risks-prevail-russell-2023-03-28/">10.8 million barrels per day</a> in 2023, making China one of the top oil importers in the world. According to Investopedia, the Chinese company China Petroleum & Chemical Corp. (SNPMF) is the second largest oil company in the world with a trailing 12-month (TTM) revenue of <a href="https://web.archive.org/web/20231211083801/https://www.investopedia.com/articles/personal-finance/010715/worlds-top-10-oil-companies.asp">$486.8 billion</a>.</p> <h3 style="padding-left: 40px;">6. Canada – 4.076 million bpd</h3> <p>Canada was the sixth-largest oil producer in the world, with production of approximately <a href="https://web.archive.org/web/20231211083801/https://finance.yahoo.com/news/top-25-oil-producing-countries-131916118.html">4.076 million bpd</a> in 2022. Canada’s oil production comes primarily from the oil sands in the province of Alberta. Canada exports a significant portion of its oil to the United States, with the US importing approximately <a href="https://web.archive.org/web/20231211083801/https://www.statista.com/statistics/487483/us-crude-oil-imports-per-day-from-canada/">3.8 million barrels per day</a> of crude oil from its neighbor to the north in 2021.</p> <p><a href="https://web.archive.org/web/20231211083801/https://www.arescotx.com/wp-content/uploads/us-petroleum-imports-from-canada-bar-chart-2010-2022.jpg" data-rel="lightbox-image-2" data-rl_title="" data-rl_caption="" title=""><img loading="lazy" decoding="async" class="aligncenter size-large wp-image-27714" src="https://web.archive.org/web/20231211083801im_/https://www.arescotx.com/wp-content/uploads/us-petroleum-imports-from-canada-bar-chart-2010-2022-1024x591.jpg" alt="US Petroleum Imports from Canada Chart 2010 - 2022" width="1024" height="591" srcset="https://web.archive.org/web/20231211083801im_/https://www.arescotx.com/wp-content/uploads/us-petroleum-imports-from-canada-bar-chart-2010-2022-1024x591.jpg 1024w, https://web.archive.org/web/20231211083801im_/https://www.arescotx.com/wp-content/uploads/us-petroleum-imports-from-canada-bar-chart-2010-2022-300x173.jpg 300w, https://web.archive.org/web/20231211083801im_/https://www.arescotx.com/wp-content/uploads/us-petroleum-imports-from-canada-bar-chart-2010-2022-768x443.jpg 768w, https://web.archive.org/web/20231211083801im_/https://www.arescotx.com/wp-content/uploads/us-petroleum-imports-from-canada-bar-chart-2010-2022.jpg 1090w" sizes="(max-width: 1024px) 100vw, 1024px"/></a></p> <h3 style="padding-left: 40px;">7. United Arab Emirates – 3.064 million bpd</h3> <p>The United Arab Emirates (UAE) was the seventh-largest oil producer in the world, with production of approximately <a href="https://web.archive.org/web/20231211083801/https://finance.yahoo.com/news/top-25-oil-producing-countries-131916118.html">3.064 million bpd</a> in 2022. The UAE has significant oil reserves, and its oil industry is a crucial source of revenue for the government. Most of the oil production in the UAE comes from the Abu Dhabi Emirate. The proven oil reserves of the UAE was estimated to be <a href="https://web.archive.org/web/20231211083801/https://www.trade.gov/country-commercial-guides/united-arab-emirates-oil-and-gas">100 billion barrels</a> in 2022 with approximately 96% of those reserves located in Abu Dhabi.</p> <h3 style="padding-left: 40px;">8. Brazil – 3.0217 million bpd</h3> <p>Brazil was the eighth-largest oil producer in the world, with production of approximately <a href="https://web.archive.org/web/20231211083801/https://finance.yahoo.com/news/top-25-oil-producing-countries-131916118.html">3.0217 million bpd</a> in 2022. The country of Brazil has significant offshore oil reserves, with most of its crude production coming from the pre-salt fields located in the Santos Basin of the South Atlantic Ocean.</p> <p>“Ultra-deep” drilling is considered to be wells developed in waters at a depth greater than 5,000 feet, however the offshore crude wells of Brazil are often drilled in waters in excess of 7,000 feet. The total depth of an offshore well in Brazil can reach <a href="https://web.archive.org/web/20231211083801/https://www.enverus.com/solutions/energy-analytics/ep-old/prism/global/pre-salt-brazil/">17,000 feet</a> below the surface of the South Atlantic Ocean.</p> <p><a href="https://web.archive.org/web/20231211083801/https://www.txoilinvestments.com/"><img loading="lazy" decoding="async" class="aligncenter size-full wp-image-27724" src="https://web.archive.org/web/20231211083801im_/https://www.arescotx.com/wp-content/uploads/oil-investment-opportunities-of-aresco.jpg" alt="Oil Investment Opportunities of Aresco LP" width="1000" height="591" srcset="https://web.archive.org/web/20231211083801im_/https://www.arescotx.com/wp-content/uploads/oil-investment-opportunities-of-aresco.jpg 1000w, https://web.archive.org/web/20231211083801im_/https://www.arescotx.com/wp-content/uploads/oil-investment-opportunities-of-aresco-300x177.jpg 300w, https://web.archive.org/web/20231211083801im_/https://www.arescotx.com/wp-content/uploads/oil-investment-opportunities-of-aresco-768x454.jpg 768w" sizes="(max-width: 1000px) 100vw, 1000px"/></a></p> <p> </p> <script type="application/ld+json"> { "@context": "https://web.archive.org/web/20231211083801/https://schema.org", "@type": "FAQPage", "mainEntity": [ { "@type": "Question", "name": "Who were the top oil producing countries in 2022? (Based on crude oil production only - not other petroleum liquids.)", "acceptedAnswer": { "@type": "Answer", "text": "1. United States – 11.9 million bpd<br/> 2. Russia – 10.75 million bpd<br/> 3. Saudi Arabia – 10.59 million bpd<br/> 4. Iraq – 4.48 million bpd<br/> 5. China – 4.1 million bpd<br/> 6. Canada – 4.076 million bpd<br/> 7. United Arab Emirates – 3.064 million bpd<br/> 8. Brazil – 3.0217 million bpd<br/>" } } ] } </script> <h2>Top Oil Producing Countries – Conclusion</h2> <p>It is worth noting that the global oil market is constantly changing, and the production levels of these countries can fluctuate based on a range of factors. Changes in market demand, geopolitical tensions, and weather conditions can all impact production levels. Additionally, the COVID-19 pandemic had a significant impact on global oil demand and production levels. Despite all the challenges encountered by the global oil industry in recent years, its resilience and ingenuity has helped it to overcome the obstacles and continue to be one of the dominant factors in the global economy.</p> <span class="cp-load-after-post"></span><div class="nextpages"></div> <div style="padding-top:30px;"> <ul class="pager">  <li class="nav-previous"><a href="https://web.archive.org/web/20231211083801/https://www.arescotx.com/what-is-the-value-of-mineral-rights-in-texas/" rel="next">Previous</a></li>  <li class="nav-bloghome"><a href="https://web.archive.org/web/20231211083801/https://www.arescotx.com/latest-news/"><span class="icon"></span>All Posts</a></li>  <li class="nav-next"><a href="https://web.archive.org/web/20231211083801/https://www.arescotx.com/advancing-technology-fuels-production-in-the-permian/" rel="prev">Next</a></li> </ul> </div> <ul class="pager"> <li></li> <li></li> </ul> </div> <div class="col-lg-3 col-md-3 sidebar"> <p class="titles">Recent 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topics">Crude Oil Export Ban</a> <a class="tag-link-105 utcw-tag utcw-tag-crude-oil-exports" href="https://web.archive.org/web/20231211083801/https://www.arescotx.com/tag/crude-oil-exports/" style="font-size:10.975609756098px" title="10 topics">Crude Oil Exports</a> <a class="tag-link-7 utcw-tag utcw-tag-crude-oil-prices" href="https://web.archive.org/web/20231211083801/https://www.arescotx.com/tag/crude-oil-prices/" style="font-size:14.878048780488px" title="18 topics">Crude Oil Prices</a> <a class="tag-link-39 utcw-tag utcw-tag-domestic-oil-production" href="https://web.archive.org/web/20231211083801/https://www.arescotx.com/tag/domestic-oil-production/" style="font-size:15.853658536585px" title="20 topics">Domestic Oil Production</a> <a class="tag-link-5 utcw-tag utcw-tag-drilling-technology" href="https://web.archive.org/web/20231211083801/https://www.arescotx.com/tag/drilling-technology/" style="font-size:13.414634146341px" title="15 topics">Drilling Technology</a> <a class="tag-link-10 utcw-tag utcw-tag-eagle-ford-shale" href="https://web.archive.org/web/20231211083801/https://www.arescotx.com/tag/eagle-ford-shale/" style="font-size:20.731707317073px" title="30 topics">Eagle Ford Shale</a> <a class="tag-link-33 utcw-tag utcw-tag-eagle-ford-shale-production" href="https://web.archive.org/web/20231211083801/https://www.arescotx.com/tag/eagle-ford-shale-production/" style="font-size:10.487804878049px" title="9 topics">Eagle Ford Shale Production</a> <a class="tag-link-100 utcw-tag utcw-tag-energy-independence" href="https://web.archive.org/web/20231211083801/https://www.arescotx.com/tag/energy-independence/" style="font-size:10.487804878049px" title="9 topics">Energy Independence</a> <a class="tag-link-16 utcw-tag utcw-tag-energy-information-administration-eia" href="https://web.archive.org/web/20231211083801/https://www.arescotx.com/tag/energy-information-administration-eia/" style="font-size:14.390243902439px" title="17 topics">Energy Information Administration (EIA)</a> <a class="tag-link-42 utcw-tag utcw-tag-fracking" href="https://web.archive.org/web/20231211083801/https://www.arescotx.com/tag/fracking/" style="font-size:11.463414634146px" title="11 topics">Fracking</a> <a class="tag-link-34 utcw-tag utcw-tag-horizontal-drilling" href="https://web.archive.org/web/20231211083801/https://www.arescotx.com/tag/horizontal-drilling/" style="font-size:12.439024390244px" title="13 topics">Horizontal Drilling</a> <a class="tag-link-8 utcw-tag utcw-tag-hydraulic-fracturing" href="https://web.archive.org/web/20231211083801/https://www.arescotx.com/tag/hydraulic-fracturing/" style="font-size:17.317073170732px" title="23 topics">Hydraulic Fracturing</a> <a class="tag-link-29 utcw-tag utcw-tag-investing-in-texas-oil" href="https://web.archive.org/web/20231211083801/https://www.arescotx.com/tag/investing-in-texas-oil/" style="font-size:10.975609756098px" title="10 topics">Investing in Texas Oil</a> <a class="tag-link-13 utcw-tag utcw-tag-oil-and-gas-investing" href="https://web.archive.org/web/20231211083801/https://www.arescotx.com/tag/oil-and-gas-investing/" style="font-size:14.878048780488px" title="18 topics">Oil and Gas Investing</a> <a class="tag-link-19 utcw-tag utcw-tag-oil-exploration" href="https://web.archive.org/web/20231211083801/https://www.arescotx.com/tag/oil-exploration/" style="font-size:10px" title="8 topics">Oil Exploration</a> <a class="tag-link-84 utcw-tag utcw-tag-oil-market" href="https://web.archive.org/web/20231211083801/https://www.arescotx.com/tag/oil-market/" style="font-size:10.975609756098px" title="10 topics">Oil Market</a> <a class="tag-link-17 utcw-tag utcw-tag-oil-production" href="https://web.archive.org/web/20231211083801/https://www.arescotx.com/tag/oil-production/" style="font-size:18.292682926829px" title="25 topics">Oil Production</a> <a class="tag-link-32 utcw-tag utcw-tag-opec" href="https://web.archive.org/web/20231211083801/https://www.arescotx.com/tag/opec/" style="font-size:15.853658536585px" title="20 topics">OPEC</a> <a class="tag-link-11 utcw-tag utcw-tag-permian-basin" href="https://web.archive.org/web/20231211083801/https://www.arescotx.com/tag/permian-basin/" style="font-size:28.536585365854px" title="46 topics">Permian Basin</a> <a class="tag-link-64 utcw-tag utcw-tag-saudi-arabia" href="https://web.archive.org/web/20231211083801/https://www.arescotx.com/tag/saudi-arabia/" style="font-size:16.829268292683px" title="22 topics">Saudi Arabia</a> <a class="tag-link-75 utcw-tag utcw-tag-shale-boom" href="https://web.archive.org/web/20231211083801/https://www.arescotx.com/tag/shale-boom/" style="font-size:10.975609756098px" title="10 topics">Shale Boom</a> <a class="tag-link-15 utcw-tag utcw-tag-texas-oil-production" href="https://web.archive.org/web/20231211083801/https://www.arescotx.com/tag/texas-oil-production/" style="font-size:19.756097560976px" title="28 topics">Texas Oil Production</a> <a class="tag-link-37 utcw-tag utcw-tag-u-s-oil-production" href="https://web.archive.org/web/20231211083801/https://www.arescotx.com/tag/u-s-oil-production/" style="font-size:11.951219512195px" title="12 topics">U.S. Oil Production</a></div><p class="titles">Archives</p> <label class="screen-reader-text" for="archives-dropdown-3">Archives</label> <select id="archives-dropdown-3" name="archive-dropdown"> <option value="">Select Month</option> <option value="https://www.arescotx.com/2023/11/"> November 2023 </option> <option value="https://www.arescotx.com/2023/10/"> October 2023 </option> <option value="https://www.arescotx.com/2023/09/"> September 2023 </option> <option value="https://www.arescotx.com/2023/08/"> August 2023 </option> <option value="https://www.arescotx.com/2023/05/"> May 2023 </option> <option value="https://www.arescotx.com/2022/05/"> May 2022 </option> <option value="https://www.arescotx.com/2021/08/"> August 2021 </option> <option value="https://www.arescotx.com/2021/07/"> July 2021 </option> 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