The Undisputed Global Oil Superpower
China’s Critical Minerals Grip Puts $6.5 Trillion of Global Industry at Risk Artificial intelligence is transforming business,… Robert Rapier is a chemical engineer in the energy industry.
He has 25 years of international engineering experience in the chemical, oil and gas, and… The newly released 2026Statistical Review of World Energyreinforces a point that sometimes gets lost in political discussions about energy: the United States remains the world’s largest oil producer.
When most people talk about “oil production,” they generally mean crude oil and condensate.
That is the narrow measure most closely aligned with what the public thinks of as oil.
But another important measure is total liquids, which includes natural gas liquids, or NGLs.
lead look much larger, because the shale boom did not just increase crude oil production.
The same data set also shows the other side of the story.
is not only the world’s largest oil producer.
It is also still the world’s largest oil consumer.
That combination is the central lesson from this year’s oil data.
dominates current oil production, but it also remains deeply dependent on oil consumption.
Meanwhile, most demand growth now comes from the non-OECD world, especially Asia.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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