21 Aug 2019 DES MOINES, Iowa -- The U.S. is now the largest oil and natural gas producer in the world. On Tuesday, the Energy Information Administration The 10 largest oil 1 producers and share of total world oil production 2 in 2018 3 . 1 Oil includes crude oil, all other petroleum liquids, and biofuels. 2 Production includes domestic production of crude oil, all other petroleum liquids, biofuels, and refinery processing gain. The United States overtook Russia in 2012 for the No. 2 spot, and surpassed former leader Saudi Arabia in 2013, to become the world's top oil producer. Much of the increased U.S. production is attributable to fracking in the shale formations in Texas and North Dakota.