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Featured Figures
Global Oil Production
The United States continued to ride the wave of shale oil production, increasing output by more than 10% between 2018 and 2019, after a jump of nearly 17% from 2017 to 2018. This confirmed the country’s position as the world’s foremost oil producer, ahead of Saudi Arabia and Russia, which were neck and neck. The United States was also the world’s leading gas producer. In 2019, Brent crude traded at an average price of $64 a barrel, down nearly 10% on 2018.
Global Oil Production (in thousands of barrels/day)
Global Oil Production (in thousands of barrels/day)
| Country | 2018 | 2019 | 2018-2019 Change | Share of Global Production |
| United States | 15,360 | 17,045 | +10.97 % | 17.91 % |
| Saudi Arabia | 12,261 | 11,832 | -3.50 % | 12.43 % |
| Russia | 11,438 | 11,540 | +0.89 % | 12.12 % |
| Iran | 4,801 | 3,535 | -26.37 % | 3.71 % |
| Canada | 5,501 | 5,651 | +2.73 % | 5.94 % |
| Iraq | 4,632 | 4,779 | +3.17 % | 5.02 % |
| United Arab Emirates | 3,912 | 3,998 | +2.20 % | 4.20 % |
| China | 3,798 | 3,836 | +0.03 % | 4.03 % |
| Kuwait | 3,050 | 2,996 | -1.77 % | 3.15 % |
| Brazil | 2,679 | 2,877 | +7.39 % | 3.02 % |
| Mexico | 2,068 | 1,918 | -7.25 % | 2.01 % |
| Venezuela | 1,475 | 918 | -37.76 % | 0.96 % |
| Nigeria | 2,007 | 2,109 | +5.08 % | 2.22 % |
| Norway | 1,845 | 1,731 | -6.18 % | 1.82 % |
| Qatar | 1,900 | 1,883 | -0.89 % | 1.98 % |
| Kazakhstan | 1,927 | 1,931 | +0.21 % | 2.03 % |
| Angola | 1,534 | 1,417 | -7.63 % | 1.49 % |
| Rest of the World | 15,066 | 15,234 | +1.12 % | 16.00 % |
| Total World | 95,254 | 95,192 | -0.07 % | 100.00 % |
Source: BP Statistical Review 2020