In 2023.. America “Produces The Most Oil In The World” For Years, And Iraq Ranks Fifth,13 MARCH

 In 2023.. America “Produces The Most Oil In The World” For Years, And Iraq Ranks Fifth

Energy   Economy News _ Baghdad   The United States of America continues to lead the world as the largest oil producer for at least the past 10 years, as it ranked first in 2023, as in previous years, while Russia came second, Saudi Arabia third, Canada fourth, and Iraq fifth.

The US Energy Information Administration said that the United States produced more crude oil than any other country at any time, and for the past six consecutive years, the average production of crude oil in the United States, including condensates, reached 12.9 million barrels per day in 2023, breaking The previous US and world record of 12.3 million barrels per day was set in 2019.

The administration indicated that the record for crude oil production in the United States in 2023 is unlikely to be broken by any other country in the near term because no other country has reached the production capacity of 13.0 million barrels per day.

The United States, Russia, and Saudi Arabia together accounted for 40% (32.8 million barrels per day) of global oil production in 2023, and these three countries have produced more oil than any other country since 1971.

Although the first place has changed among them over the past five decades. By comparison, the next three largest producers - Canada, Iraq and China - combined produced 13.1 million barrels per day in 2023, only slightly more than was produced in the United States alone.

According to the administration's statistics, Iraq ranked fifth in the world in terms of oil production, after America, Russia, Saudi Arabia, and Canada. - https://economy-news.net/content.php?id=41389