The Biggest Oil and Gas Companies in the World
The United States is currently the world's largest oil producer, with output reaching nearly 23 million barrels per day in 2024, accounting for around 22 percent of global production. Yet, the dominant force in the global oil industry isn't American. That title belongs to Saudi Aramco, the Saudi state-owned oil company.
Saudi Aramco also boasts the highest market capitalization in the sector, at over $1.5 trillion. This valuation puts it far ahead of its closest competitor, U.S. giant ExxonMobil, which is valued at $457 billion. Aramco controls nearly all of Saudi Arabia's oil resources and operates Ghawar, the largest oil field on the planet.
According to data compiled by companiesmarketcap.com, three of the world’s top ten oil companies are from the U.S. (ExxonMobil, Chevron, and ConocoPhillips). The ranking also includes three Chinese firms (PetroChina, CNOOC, and Sinopec) and two British companies (Shell and BP).