NEW! World oil markets are rebalancing after the Covid 19 crisis spurred an unprecedented collapse in demand in 2020, but they may never return to normal. Measured as deliveries from refineries and primary stocks, comprises inland deliveries, international marine bunkers, refinery fuel, crude for direct burning, oil from non-conventional sources and other sources of supply. Oil production by region Oil production per capita Oil reserves Per capita CO2 emissions by fuel type Per capita CO2 emissions from coal Per capita CO2 emissions from gas Per capita CO2 emissions from oil Per capita energy consumption from coal Per capita fossil energy consumption vs. GDP per capita Per capita gas consumption Many companies are already . Global crude oil output rose by less than 1% in 2021 after a 7.4% drop in 2020. [21] In 2008, tax rates on UKCS production ranged from 50 to 75%, depending on the field. Lets give these numbers some context. But the Top 3 oil producers in 2021 were the U.S. at 11.1 million barrels per day (BPD), Russia at 10.5 million BPD, and Saudi Arabia at 9.4 million BPD. In an oversupplied market suffering from a lack of demand, oil prices turned negative, shocking market participants. 3. In some cases, especially for European domestic markets, some substitution for rapeseed or sunflower seed oils could have a positive environmental impact even if it required using a bit more land. As you can see, there are essentially three superpowers that produce over 10 million barrels of oil per day: United States (13.1 million), Saudi Arabia (12.0 million), and Russia (11.3 million). The speed and depth of the recovery is likely to be uneven both geographically and in terms of sectors and products. Help us do this work by making a donation. In recent years, the global oil market has been impacted significantly by COVID-19 disruptions, price wars between oil-producing nations and now the Russia/Ukraine war. But if this leads to a shortfall in investment, it could also have geopolitical implications and heighten the risk of supply shortages later on. Under this definition, total world oil production in 2021 averaged 77,043,680 barrels per day. Venezuela was way down the list, at #25 with 605,000 BPD. With a rough estimate of 11,567,000 barrels per day, the United States is the top oil-producing country in the world, as it has been for many years. Stats Related Indicators World Energy We will always indicate the original source of the data in our documentation, so you should always check the license of any such third-party data before use and redistribution. The non-oil fraction of soybeans, for example, can be allocated to other uses such as high-protein animal feed. Output in 2018 helped the Middle Eastern nation regain its sixth spot position. What causes deforestation in Indonesia?. We know that tropical forests are incredibly rich in biodiversity, and store a lot of carbon from the atmosphere. In 2021, about 15.2% of U.S. crude oil was produced from wells located offshore in the federally administered waters of the Gulf of Mexico. The largest share of Brazils total energy consumption is oil and other liquid fuels, followed by hydroelectricity and natural gas. This is shown in green in the chart. US sanctions and regional disputes have all weighed on Irans energy production sector. In Germany, for example, bioenergy is the largest use, accounting for 41% (more than food at 40%). What is it used for? As wed expect, we see vast differences. Top 10 Countries with the Highest Oil Production (barrels per day) United States - 11,567,000 Russia - 10,503,000 Saudi Arabia - 10,225,000 Canada - 4,656,000 Iraq - 4,260,000 China - 3,969,000 United Arab Emirates - 2,954,000 Brazil - 2,852,000 Kuwait - 2,610,000 Iran - 2,546,000 [2] Saudi Arabia and Russia also top the list of oil exporting countries. 2023 Battery Metals Outlook: Australia Edition, NEW! Statista assumes no , Top 5 US Oil and Gas Dividend Stocks in 2023. The RSPO was launched in 2004, and provides certification for suppliers who produce their crop in a more sustainable way by conducting impact assessments, managing high-value areas of biodiversity, not clearing primary forest and avoiding land clearance through fires.16 For example, suppliers can only be certified if their plantations since 2005 have not replaced primary forest or areas rich in biodiversity. When will countries phase out coal power? At the same time, the historic collapse in demand in 2020 resulted in a record 9mb/d spare production capacity cushion that would be enough to keep global markets comfortable at least for the next several years. And why has the country seen its oil production plummet by more than 75% over the past decade? This combination of interventions involves actors across the full production line, from agricultural scientists improving crop varieties, to palm oil growers, governments, food and cosmetic producers, retailers and consumers. In 2016, production reached 3,072,000 bpd, then dropped to 3,025,000 bpd in 2017. An effective and orderly transition will be critical not only to reach international climate targets but also to prevent serious supply disruptions and destabilising price volatility along the way. Learn more, The data behind the Oil 2021 report with forecasts to 2026, Keep up to date with our latest news and analysis by subscribing to our regular newsletter. Its mission statement is as follows: Currently OPEC has 13 member nations: Algeria, Angola, Congo, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, United Arab Emirates and Venezuela. This is an extract, full report available as PDF download, Use of IEA data in any type of modelling for the purpose of creating derived data or derived products, and any services to distribute or display such derived products, requires a separate License Agreement with the IEA (see help centre), Find out about the world, a region, or a country, Find out about a fuel, a technology or a sector, Explore the full range of IEA's unique analysis, Search, download and purchase energy data and statistics, Search, filter and find energy-related policies, Shaping a secure and sustainable energy future, Clean Energy Transitions in Emerging Economies, Digital Demand-Driven Electricity Networks Initiative. As the country records increasing rig counts and crude production, its . Total OPEC comprises all countries which are current OPEC members. Potapov, P., Hansen, M. C., Laestadius, L., Turubanova, S., Yaroshenko, A., Thies, C., & Esipova, E. (2017). This is shown for the Indonesian and Malaysian Borneo in the chart. The US also consumes more oil than any other country worldwide. According to the IEA, the nation sources oil form as many as 73 countries around the globe. One reason for the decline of Venezuela's oil industry is that many countries including the U.S. have placed various sanctions on Venezuela over the years. There are a couple of reasons why palm oil has been the favored crop to meet growing demand for vegetable oils. In February 2020, a new cost estimate for the project sent the C$7.4 billion figure to C$12.6 billion; that figure was adjusted again in February 2022, nearly doubling to C$21.4 billion. Total Non-OPEC excludes all countries that are currently members of OPEC. All other material, including data produced by third parties and made available by Our World in Data, is subject to the license terms from the original third-party authors. Sharp drop in crude oil production in the United Kingdom. It includes crude oil, natural gas liquids (NGLs) and additives. The World Crude Oil Production measures the number of barrels of crude oil that are produced per day in the world. It thrives on high rainfall, adequate sunlight and humid conditions this means the best growing areas are along a narrow band around the equator.4 Palm oil is therefore grown in many countries across Africa, South America, and Southeast Asia. World Crude Oil Production by Year (Thousand Barrels per Day) Product Crude Oil Natural Gas Liquids Motor Gasoline Jet Fuel Kerosene Distillate Fuel Oil Residual Fuel Oil Liquefied Petroleum Gases Other Petroleum Products Dry Natural Gas Coal Ethanol Fuel Biodiesel Total Primary Energy Electricity Hydroelectric Power Nuclear Electric Power Lets take a look at how this comparison affects the global landscape of oilcrops in terms of production and land use. At the time, an expansion was estimated to cost another C$7.4 billion, after which the government would sell the project back to the private sector. What this means is that it accounts for a very high share of oil production without taking up much land. According to Reuters, during the first few months of 2022, Chinas crude oil refineries have been cutting production due to COVID-19 lockdowns as the virus continues to challenge the governments zero-COVID strategy. Oil demand in 2025 is set to be 2.5 mb/d lower than was forecast a year ago in our Oil 2020 report. The Oil 2021 dataset includes 2019 data and forecasts through 2026 for world oil supply and demand by region, global oil demand by region and for major economies, world oil production (OPEC data through 2020 only), world refinery capacity additions, world Oil 2021 The data behind the Oil 2021 report with forecasts to 2026 Data set Annual percentage change in coal energy consumption, Annual percentage change in fossil fuel consumption, Annual percentage change in gas consumption, Annual percentage change in oil consumption, Coal output from opencast and deepmines in the United Kingdom, Coal output per worker in the United Kingdom, Coal production and imports in the United Kingdom, Coal production per capita over the long-term, Electricity generation from low-carbon sources, Employment in the coal industry in the United Kingdom, Fossil fuel production over the long-term, Global carbon budget for a two-degree world, Hubbert's peak prediction vs. actual oil production in the United States, Oil & gas employees vs. rig count in the United States, Per capita fossil energy consumption vs. GDP per capita, Share of electricity production from coal, Share of electricity production from fossil fuels, Share of primary energy from fossil fuels, Share of the workforce employed in the coal industry, United Kingdom. The story of palm oil is less about it as an isolated commodity, but more about the story of the rising demand for vegetable oils. Some studies suggest that palm oil has played a very small role in global forest loss. But has this expansion came at the expense of tropical forest? Firstly, it has lowest production costs.11 Secondly, its composition means its versatile and can be used for food and non-food purposes alike: some oils are not suited for cosmetic uses such as shampoos and detergents. This topic page can be cited as: All visualizations, data, and code produced by Our World in Data are completely open access under the Creative Commons BY license. As wed expect, all of these countries lie along the zone of optimal conditions around the equator. Please refer to thecookie policy for collected data, privacy and GDPR compliance. There are a number of steps we can take to ensure we meet global demand for oils, without destroying our tropical forests. Many believe that boycotting palm oil is how we make a difference. Top of Page Print Page 2023 Organization of the Petroleum Exporting Countries Sitemap Data Policy Disclaimer Terms and Conditions Yet any increase is unlikely to match the lofty levels of the recent past. An in-depth analysis of the past years key figures, with projections related to the current context (post-pandemic rebound and the energy crisis due to the war in Ukraine). Country Last Previous; Nigeria: 1228: 1247: Angola: . Science, 365(6455), 756-757. The country's annual oil production rose to 5,558,000 bpd in 2021, up from 2020's output levels of 5,235,000 bpd. Its of course true that some crops provide co-products in the process. 2023 Pharmaceuticals Outlook Report. This is now 35 times higher: in 2018 the world produced 71 million tonnes. In the chart we see the production of the palm oil plant across a number of countries. Asian oil demand will continue to rise strongly, albeit at a slower pace than in the recent past. It is crucial to invest in the upstream sector even during rapid transitions in which it would still take years to shift global transport fleets away from internal combustion engines to electric vehicles and other low-carbon alternatives. The breakdown of global vegetable oil production by crop is shown in the stacked area chart. (2018). Royal Academy of Engineering (2017). The US has been described as a swing producer because its production fluctuates alongside market prices. Nigeria's oil production crashes to 900,000b/d. Venezuela was way down the list, at #25 . 43% also answered Dont know, meaning that almost no one thought it was good. Last on this list of the top 10 oil-producing countries is Kuwait, whose output decreased in 2021 for the third time since 2018. Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article. A push towards increased biofuel consumption in the transport sector has been driving this, despite it being worse for the environment than normal diesel (more on this later). The country holds less than 1% of the world's oil reserves - enough to last around 15 years. See which countries are gaining forest though natural forest expansion and afforestation. United Arab . 15th in Oil Production in Nigeria Nigeria produces 1,938,542.73 barrels per day of oil (as of 2016) ranking 15th in the world. A number of oil and gas companies are already scaling up their commitments in these areas. The top 10 countries with the highest crude oil production. Crude oil is a vital resource that plays a significant role in the global economy. How can we use palm oil without destroying tropical forests? Vijay, V., Pimm, S. L., Jenkins, C. N., & Smith, S. J. The outlook for the tight oil industry has been tempered by an apparent shift in the business model towards spending discipline, free cash flow generation, deleveraging and cash returns for investors. The authors of the original study make it clear that intact forest loss should not be confused with primary forest loss. Oil 2021, the IEAs latest medium-term outlook, explains why. On the left we have each crops share of global land use for vegetable oils; on the right we have its share of production. Brazils oil production fell slightly from 3,769,000 bpd in 2020 to 3,689,000 bpd in 2021. There are now a number of certification schemes which help to verify whether palm oil is being produced in a sustainable way. help centre, See if you qualify for a discount. In March 2022, the International Energy Agency (IEA) warned that Russia could be forced to cut 30 percent of its crude oil production, resulting in a serious global oil supply crisis. According to the EIA, Iran holds the worlds third largest proven oil reserves, as well as the worlds second largest natural gas reserves. Proceedings of the National Academy of Sciences, 115(1), 121-126. Substitution would be feasible for most food products. Although total U.S. crude oil production generally declined between 1985 and 2008, annual production increased nearly each year from 2009 through 2019, reaching the highest amount on record in 2019. As a result, by 2026, global oil consumption is projected to reach 104.1mb/d. Africa: 7,172.782: 1: Egypt: 1,381.057: 2: Nigeria: 1,136.795: 3: South Africa: 861.929: Where does Nigeria rank in oil production? , Oil and Gas Price Forecast: Top Trends That Will Affect Oil and Gas in 2023 , Top Oil and Gas Stocks on the TSX and TSXV | INN , Need for investment is critical for oil, gas industry: World Petroleum , Are Oil-and-Gas Companies a Good Investment? Currently the world devotes around 322 million hectares to oilseed crops. The world devotes more than 300 million hectares for oilcrop production. Overall, oil production grew in the Middle East (+1.6%), leaded by Iran with +17.6% despite sanctions, in North America (+2.5%), including +5.9% in Canada, in CIS (+1.8%), and in Asia (+3.3%). Get in touch with us. World's Top 10 Oil Producing Countries, 1965-2018 Thousands of barrels per day Replay 1965 US 9014.148 USSR 4857.76 Venezuela 3503 Kuwait 2371 Saudi Arabia 2219.3 Iran 1908 Iraq 1313 Libya. In a paper published in Nature, David Gaveau and colleagues (2016) used satellite imagery to assess what types of land industrial plantations replaced in the Borneo region.9 Industrial plantations include palm oil and pulpwood tree plantations, but are dominated by the former. You can unsubscribe at any time by clicking the link at the bottom of any IEA newsletter. How has the world achieved such a rapid expansion of palm oil production? In 2022, the country's US relations have soured to the point that the Arab kingdom seems unwilling to increase production in an effort to bring down rising gasoline prices. Saudi Arabias oil output came in at 10,835,000 bpd in 2021. When production rose dramatically in April of that year after Russias decision not to approve further cuts proposed by Saudi Arabia, the de facto OPEC leader responded by offering its product at a discount and producing more oil. Next on this list of the top 10 oil-producing countries is Canada. All the software and code that we write is open source and made available via GitHub under the permissive MIT license. In 2018, the federal government purchased the Kinder Morgan (NYSE:KMI) Trans Mountain pipeline for C$4.5 billion to ensure Canadian crude reaches market ports. The global market still looks adequately supplied through much of the medium term. IUCN Oil Palm Task Force Gland, Switzerland: IUCN. Russia became the worlds second largest crude oil producer, surpassing Saudi Arabias output by around 1.5%. We can simply calculate this as 1 / Yield (in tonnes per hectare). As we will see later in this article, more recent data for 2018 comes to 218 million tonnes. Environmental Research Letters, 14(2), 024007.Seymour, F., & Harris, N. L. (2019). A global study of palm-driven deforestation found that in Southeast Asia, 45% of oil palm plantations came from areas that were forests in 1989.10 In Indonesia this was 54% and in Malaysia, 40%. How has land use for palm oil changed over time? Our World in Data is free and accessible for everyone. There are some products where using palm is our best option. data than referenced in the text. World crude oil price vs. oil consumption. Therefore using this land to grow the crop is meeting other food demand at the same time. U.S. oil production has seen significant growth since 2010. You have permission to use, distribute, and reproduce these in any medium, provided the source and authors are credited. Explore long-term changes in deforestation, and deforestation rates across the world today. In the chart here we see the drivers of deforestation in Indonesia from 2001 to 2016.8 Oil palm plantations were the largest driver of deforestation over this period, accounting for 23%. It holds the worlds fifth largest proven oil reserves at 145 billion barrels; that represents 8.4 percent of global reserves. In 2018, the world produced 72 million tonnes of oil palm. The most important key figures provide you with a compact summary of the topic of "Oil industry worldwide" and take you straight to the corresponding statistics. Fast-evolving government plans to accelerate transitions towards a more sustainable future have created a high degree of uncertainty that is testing the oil industry. The world loses 5 million hectares of forest to deforestation each year. This is a list of countries by oil production (i.e., petroleum production), as compiled from the U.S. Energy Information Administration database for calendar year 2021, tabulating all countries on a comparable best-estimate basis. The industry group says that's 11 per . Global shutdowns of 3.6 mb/d have already been announced, but a total of at least 6mb/d will be required to allow utilisation rates to return to above 80%. This study only looks at the Borneo region. 1 min read. 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