Abstract: This research intends to deal with the high proportions of low-production and low-efficiency wells, the presence of oil wells with energy efficiency below 10% even after performing energy-saving treatments, and the failure of the current evaluation indicators and system to clarify the energy-saving potential of pumping wells. Based on the artificial lifting theory and analysis of production data, the concept of the efficiency factor was proposed, and the six-component efficiency factor evaluation method was developed, including the factors of power, transmission, packers, rod-string, gas lifting and pumping. The calculation formula of the efficiency factor, and the evaluation indicators and methodology were developed. The application of the presented method to 330 oil wells shows that this method can clarify the energy-saving space at each node of pumping wells and provide case-specific optimization treatments and workflows to considerably improve the oil well efficiency. The developed six-component efficiency factor evaluation model perfects the theoretical calculation formulas of nodal energy-saving potential of pumping wells and provides a scientific methodology for energy-saving management of oilfields.