When most people think of the major oil producing countries, they tend to think of the Middle East. So, it may come as a surprise to many that the United States is the largest producer of oil* in the world; and by quite a wide margin. In 2018, The United States produced nearly 18% of the world’s oil. This is 44% more than the second largest oil producing country, Saudi Arabia. The United States produces nearly 18 million barrels of oil and other petroleum liquids every single day.
What isn’t as surprising is that the United States is also the top consumer of oil in the world, gobbling up 20% of all oil used every day, or nearly 20 million barrels. This is 54% more oil consumption than second place China. Eventually, China and potentially India will both overtake the United States as the top consumer as they continue to industrialize, but for now the United States is the clear leader in consumption.
The charts below provide a breakdown of the top 10 producers and consumers of oil, both in terms of percentage and absolute barrels. *Data from U.S. Energy Information Administration. Oil for this analysis includes crude oil, all other petroleum liquids, and biofuels.
