With demand nearing 105 million barrels per day, Iraq is strengthening its position among the world’s top oil suppliers.
Recent data from the International Energy Agency indicates that global oil consumption is currently stabilizing at a level close to 100 to 105 million barrels per day, with continued strong demand from major economies despite slowing growth in some regions.
According to the agency’s data, the United States tops the list of the world’s largest consumers with about 20.3 million barrels per day, followed by China with about 16.1 million barrels per day, then India with about 5.2 million barrels per day, while Russia, Saudi Arabia and Brazil come in the next ranks with consumption ranging between 3 and 4 million barrels per day for each country.
As for global production, the leading producing countries are: America, Saudi Arabia, Russia and Iraq, where estimates indicate that Iraq produces more than 4 million barrels per day under normal conditions, making it one of the most important oil suppliers in the global market.
Energy market reports confirm that global oil demand continued to rise during 2025, reaching more than 105 million barrels per day, with expectations of continued growth in 2026 but at a slower pace as a result of the gradual shift towards alternative energy.
In contrast, global production is largely concentrated in OPEC countries, led by Saudi Arabia and Iraq, as well as the United States, Russia, and Brazil, making the oil market highly sensitive to any geopolitical disturbances or supply chain crises.
Shafaq.com