Oil is once again the focus of economists and investors. The announcement by Russia and Saudi Arabia that they would extend their voluntary production cuts through the end of the year has pushed the price of crude oil above the US$90-per-barrel mark. In this context, do you know which country is the world’s largest oil producer?

ANSWER 

United States. With production of 17.8 million barrels per day in 2022, the U.S. accounted for 19% of global production. It is followed by Saudi Arabia, with 12.1 million barrels per day (13% of global production), and Russia, with 11.2 million barrels per day (12% of global production).