The world’s largest oil companies control much of the global energy supply. They influence fuel prices, government revenues, and even geopolitical stability. These five giants produce millions of barrels per day and generate hundreds of billions in annual revenue.
1. Saudi Aramco
Saudi Aramco is the largest oil company in the world, both by production and market value. Owned primarily by the Saudi government, it produces around 10 million barrels of crude per day. The company manages the Ghawar oil field, the largest onshore field globally.
In 2024, Aramco reported revenues of more than 400 billion dollars, making it one of the most profitable companies in history. Its dominance gives Saudi Arabia a major role in setting OPEC’s production policies.
2. ExxonMobil
ExxonMobil is the largest publicly traded oil company in the United States. It produces about 3.8 million barrels of oil equivalent per day and operates in over 60 countries.
The company has significant assets in the Permian Basin and major projects in Guyana and Qatar. ExxonMobil’s 2024 revenue was roughly 340 billion dollars, supported by its strong downstream refining and chemical businesses.
3. Shell
Headquartered in the United Kingdom, Shell is one of the most diversified energy companies in the world. It operates across oil, gas, and renewable energy sectors.
Shell’s daily production averages 3 million barrels of oil equivalent. In 2024, the company generated around 330 billion dollars in revenue. It is also investing heavily in carbon capture and electric vehicle charging infrastructure.
4. Chevron
Chevron, another U.S. oil major, produces about 3 million barrels per day and has operations in more than 180 countries. Its key production regions include the United States, Kazakhstan, and the Gulf of Mexico.
Chevron reported nearly 240 billion dollars in revenue in 2024. The company is focusing on long-term projects such as liquefied natural gas (LNG) and advanced biofuels.
5. BP (British Petroleum)
BP remains one of the top global producers, with operations spanning 70 countries. It produces around 2.3 million barrels per day and reported revenue of about 220 billion dollars in 2024.
In recent years, BP has shifted more toward renewable energy investments, including offshore wind farms and hydrogen production, as part of its plan to reach net-zero emissions by 2050.
The global picture
These five companies together account for more than one-quarter of global oil production. While they differ in ownership and strategy, all are adapting to a changing energy market that is slowly shifting toward lower-carbon sources.
Their scale and financial power ensure they will continue to shape global fuel supply and prices for decades to come.
Key takeaway:
Saudi Aramco leads the world in oil production and profit, followed by ExxonMobil, Shell, Chevron, and BP. Each plays a key role in global energy supply and directly influences the price of fuel in the United States.
