Iraq ranks fourth largest oil producer in the world

Baghdad (IraqiNews.com) – The fourth-largest oil producer in the world in 2022, according to Yahoo Finance, was Iraq.

Iraq produced 4.48 million barrels per day on average in 2022 and earned record amounts from oil sales, coming in at $115.657 billion, up from $75.6 billion in 2021.

One of the main causes of the rise in Iraqi oil output in 2022 was the fallout from the Russian-Ukrainian conflict.

The majority of the country’s oil production takes place in southern Iraq’s Basra governorate and northern Iraq’s Kirkuk governorate.

With a crude oil production of 11.9 million barrels per day, the United States was the world’s leading oil producer. Russia finished in second with 10.75 million barrels per day of crude oil production, while Saudi Arabia followed in third with 10.59 million barrels per day.