According to the International Energy Agency (IEA), global oil production amounted to 89.9 million barrels per day in 2021, a slight decrease from 90.6 million barrels per day in 2020. The decline in production was mostly attributable to OPEC+ crude oil production cuts that started in late 2020 to support higher crude oil prices. The U.S. Energy Information Administration (EIA) estimates that U.S. crude oil production in 2021 decreased by 0.1 million barrels per day from 2020 and by 1.1 million barrels per day from 2019, partly due to cold weather and hurricanes that affected oil operations.
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