In order to solve the problem of imprecise annual crude oil production allocation in Dagang Oilfield, which affects the fair distribution of oil production, cost assessment and scientific management of oil field, an innovative comprehensive determination method of annual crude oil production allocation is proposed. This method comprehensively considers the law of oilfield development. The production allocation of new wells considers the natural decline of new wells into old wells. According to the analysis of productivity construction characteristics, the production decline period and decline size of new wells are determined. The efficiency of the measures and the oil increase of the measures are considered in the production allocation of the measures. The natural decline law is considered in the allocation of old Wells. After being applied to Dagang Oilfield, it can more accurately allocate new Wells, old Wells and measure production, improve the scientificity and effectiveness of decision-making, provide technical support for accurate oilfield assessment and scientific management, and achieve sustainable development of oilfield.