Oil production in metric tons 2023, by country

In 2023, the United States produced a total of 827.1 million metric tons of oil, making it the leading oil-producing country in the world. The U.S. was also the largest oil-consuming country, with a consumption of nearly 19 million barrels of oil per day in 2023. 

Rise of unconventional oil production

The U.S. has been the world's largest oil producer since 2018. Its ever increasing oil output has been made possible by the development of technologies allowing extraction from previously inaccessible deposits. The U.S. is the country with the largest unconventional oil resources, held largely in the form of kerogen (shale oil).

Oil as a raw material

Oil is one of the most widely used raw materials, such as for the manufacturing of transportation fuels, pharmaceuticals, and plastics. When breaking down the many products made of one barrel of crude oil, gasoline and diesel constitute the largest product group. Despite the economic events in 2008, 2009, and 2020 that impacted global oil use, daily global crude oil demand saw a net increase since 2006 and is forecast to grow even further.