Which country is the world’s largest crude oil producer? Saudi Arabia? Try again. Russia? No. The United States has been the global crude oil leader since 2018. Extraction techniques have evolved in recent years, leading to record production. The cost of extracting petroleum affects everything from gas prices to clothing, so here’s a look at what the nation produces.
Domestic crude oil production more than doubled between 2011 and 2022, faster than at any point in history. The U.S. hit a peak of 12.3 million barrels per day in 2019.
In 2022, five states accounted for more than 70% of total crude oil production.
• Texas: More than 1.8 billion barrels of crude oil were produced, 42.4% of the U.S. total.
• New Mexico: More than 574 million barrels of crude oil, or 13.2% of the total.
• North Dakota: More than 386 million barrels of crude oil, or 8.9%.
• Alaska: More than 159 million barrels of crude oil, or 3.7%.
• Colorado: More than 157 million barrels of crude oil, or 3.6%. Oil producers have used hydraulic fracturing (“fracking”) for more than 60 years. Yet fracking and horizontal drilling have led to an unprecedented rise in oil production. In the early 2000s, 7% of U.S. oil was extracted via fracking; by 2022, two-thirds was.