Subscribe to the Elements free mailing list for more like this
The World’s Largest Oil Producers
The world is in the middle of the first energy crisis of the 21st century.
High energy prices, especially for oil, gas, and coal, are driving decades-high inflation in various countries, some of which are also experiencing energy shortages. Russia’s recent invasion of Ukraine has exacerbated the crisis, given that the country is both a major producer and exporter of oil and natural gas.
Using data from BP’s Statistical Review of World Energy, the above infographic provides further context on the crisis by visualizing the world’s largest oil producers in 2021.
Oil Production: OPEC Countries vs. Rest of the World
Before looking at country-level data, it’s worth seeing the amount of oil the Organization of Petroleum Exporting Countries (OPEC) produces compared to other organizations and regions.
|Region/Organization||2021 Oil Production (barrels per day)||% of Total|
|Commonwealth of Independent States (CIS)||13.8M||15%|
|Rest of the World||20.5M||23%|
The OPEC countries are the largest oil producers collectively, with Saudi Arabia alone making up one-third of OPEC production. It’s also important to note that OPEC production remains below pre-pandemic levels after the organization reduced its output by an unprecedented 10 million barrels per day (B/D) in 2020.