5 Countries That Produce the Most Oil in the World

4. Canada

2021 Oil Production (million barrels per day): 5.43

Canada is the fourth largest oil producer in the world with oil production of 5.43 million barrels per day with a substantial percentage from oil sands. In terms of oil sands, Canada has the world’s second largest reserves at 162.4 billion barrels. Taking into the consideration the cost to produce oil from oil sands, however, the process is more expensive than the process of making other types of oil.