who sells the most oil in the world
List of countries by oil production The top three producers have in recent history been (alphabetically) Russia, Saudi Arabia, and the United States. Each of these countries experienced major production declines at different times in the past, but since 2014 all three have been producing near their peak rates of 9 to 11 million barrels per day.[2] Saudi Arabia and Russia also top the list of oil exporting countries, while Russia is not a member of OPEC. The monthly U.S. oil production reached 10.07 million b/d in November 2017, the highest monthly level of crude oil production in U.S. history.[3] In early 2018, the U.S. government forecast the country will become a net oil and gas exporter by 2022, the first time since 1953.[4]
Economy of Saudi Arabia The economy of Saudi Arabia is dependent on oil and has strong government control over major economic activities. The Saudi economy is the largest in the Arab world.[13] Saudi Arabia has the world's second-largest proven petroleum reserves and the country is the largest exporter of petroleum.[14][15] It has also the fifth-largest proven natural gas reserves. Saudi Arabia is considered an "energy superpower".[16][17] It has third highest total estimated value of natural resources, valued at US$34.4 trillion in 2016.[18]