5 Countries That Produce the Most Oil in the World

In this article, we discuss 5 countries that produce the most oil in the world. If you want to see more countries that produce the most oil in the world, go directly to 15 Countries That Produce the Most Oil in the World.

5. Iraq

2021 Oil Production (million barrels per day): 4.1

Iraq ranks #5 on our list of 15 Countries That Produce the Most Oil in the World given its 2021 oil production of 4.1 million barrels per day. In terms of oil and gas, Iraq has a lot of potential given the country has proven crude oil reserves of 145 billion barrels and proven natural gas reserves of 3,714 billion cubic meters. The country plans on increasing its oil production capacity to 7 million barrels per day in 2027.