China is the world’s second largest consumer of oil and moved from being the second largest net importer of oil to the largest in 2014. Learn how to invest in the oil gas industry in 2020. See Saudi Arabia and Russia also top the list of oil exporting countries, while Russia is not a member of OPEC. The monthly U.S. oil production reached 10.07 million b/d in November 2017, the highest monthly level of crude oil production in U.S. history. In May of 2019, the country became a net oil and gas exporter, the first time since 1953.