In May of 2019, the country became a net oil and gas exporter, the first time since 1953. The top three producing nations (identified by the EIA) in 2021 were the U.S., Saudi Arabia, and Russia.

oil production reached 12.86 million b/d in November 2019, the highest monthly level of crude oil production in U.S. Saudi Arabia and Russia also top the list of oil exporting countries.

Each of these countries experienced major production declines at different times in the past, but since 2014 all three have been producing near their peak rates of 9 to 11 million barrels per day. In recent history, the top three producers have been the United States, Russia, and Saudi Arabia. Members of the OPEC: Organization of Petroleum Exporting Countries Qatar, 1961, 2.88 M 12,000 km, 144.41 bn US Saudi Arabia, 1960, 34.81 M 2,150,000 km. Approximately 71% came from the top ten countries, and an overlapping 37% came from the thirteen current OPEC members, in the table below. Under this definition, total world oil production in 2021 averaged 77,043,680 barrels per day. They also do not include the increase in liquid volumes during oil refining ('refinery gain'), or liquids separated from natural gas in gas processing plants ( natural gas liquids). The volumes in the table do not include biofuel. The volumes in the table represent crude oil and lease condensate, the hydrocarbon liquids collected at or near the wellhead. Indeed, the economic literature identified the terms of trade the relative price of. Compared with shorter-term data, the full-year figures are less prone to distortion from periodic maintenance shutdowns and other seasonal cycles. real exchange rates of these three main oil exporting countries. Actually, for many oil exporters the oil wealth far surpasses their current net foreign assets. Energy Information Administration database for calendar year 2021, tabulating all countries on a comparable best-estimate basis. The underground oil wealth is a very important component for oil-exporting countries. This is a list of countries by oil production, as compiled from the U.S.

Oil exporter countries