Iraq is the world's fourth-largest producer of oil

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Iraq is the world's fourth-largest producer of oil

 Iraq will produce the fourth-most oil in the world in 2022, according to Yahoo Finance. Iraq averaged 4.48 million barrels of oil production per day in 2022, while the country made record oil sales revenues of $115.657 billion, up from 75.6 billion in 2021.

The effects of the Russian-Ukrainian conflict were one of the key reasons why Iraq's oil production increased in 2022. The Basra governorate in southern Iraq and the Kirkuk governorate in northern Iraq account for the majority of the nation's oil production.

America was the world's top oil producer, producing 11.9 million barrels of crude oil every day. Saudi Arabia came in third with 10.59 million barrels per day, followed by Russia in second place with 10.75 million barrels per day.


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