Top 5 Oil Producing Countries in the World

4. Iraq

Crude Oil Production in 2022: 4.48 million barrels per day

In 2022, Iraq moved up to the 4th spot among the top oil-producing countries in the world. Additionally, the country generated record revenues of $115.657 billion from global oil sales, compared to $75.6 billion in 2021. Along with an increase in daily production, the cost increase in 2022 due to the Russia-Ukraine war was also a major factor in Iraq’s oil revenues surge.