US Dominates Global Oil Supply as Major Producers Ramp Up Production

The world's biggest oil producers have dominated global supply in 2022, with the U.S. holding the top spot for nearly five years.

According to data from the Energy Institute's Statistical Review of World Energy, the U.S. produced close to 18 million barrels per day (B/D), accounting for nearly one-fifth of global oil supply.

The country's oil production is concentrated in five states: Texas, New Mexico, North Dakota, Alaska, and Colorado, which together account for almost three-fourths of the country's output.

Saudi Arabia ranked second with 12 million B/D, followed by Russia with 11 million B/D. The top four countries, the U.S., Saudi Arabia, Russia, and Canada, make up more than a third of global oil supply.