US Dominates Global Oil Production with Record-High Output
The United States has maintained its position as the world's largest crude oil producer for several years, starting in 2018. In 2025, the country produced a record-high 13.6 million barrels per day, exceeding Russia (9.9 million bpd), Saudi Arabia (9.6 million bpd), and Canada (5.0 million bpd). This trend is attributed to advancements in drilling productivity and operational efficiency, which allow operators to extract more oil from each well.
The Permian Basin of Texas and New Mexico has been a key contributor to this growth, accounting for approximately 48% of total domestic production in 2025. The shift towards increased US oil production has not only boosted the country's economy but also enhanced its geopolitical strength. With global supplies exceeding demand, West Texas Intermediate prices dropped from an average of $77 per barrel in 2024 to $65 in 2025.
US petroleum exports reached a new record in May 2026, with disruptions in the Middle East and the Strait of Hormuz increasing global demand for US exports. Despite oil being priced globally, US consumers and industries are still feeling the effects of the current conflict due to high oil prices.