The world's Top 10 oil consumers in 2021 Robert Rapier U.S. Remains Oil Production Champion Despite the ongoing impact the pandemic has had on U.S. oil production, the U.S. remained the. Palm oil has been an important driver of deforestation. "}.mw-parser-output .srn-white-background{background:#fff}.mw-parser-output .static-row-numbers tr:hover{background:#eaf3ff}, Last edited on 20 February 2023, at 02:21, List of countries by natural gas production, List of countries by natural gas proven reserves, List of countries by natural gas consumption, "Annual petroleum and other liquids production", "OPEC+ not to increase oil production in April", "U.S. Crude oil production grew 11% in 2019, surpassing 12 million barrels per day", The US will be a net energy exporter by 2022, four years sooner than expected, Energy Department says, United Nations Department of Economic and Social Affairs, https://en.wikipedia.org/w/index.php?title=List_of_countries_by_oil_production&oldid=1140438968, This page was last edited on 20 February 2023, at 02:21. 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. Global oil production has continued to rise over the years. United States - 17 million barrels per day The US became the world's biggest oil producer in 2017, overtaking Saudi Arabia to claim top spot. But, most of the research concludes that, particularly in tropical forests in Southeast Asia, palm expansion has played a significant role. 75% of these plantations were grown on land that was previously forested in 1973. 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%). Nigeria's oil production crashes to 900,000b/d. What would be the impact of substituting palm oil? A much stronger pivot towards a cleaner energy future will be required to reach ambitious mid-century goals for net-zero emissions. 19 million hectares might sound like a lot of land. In response to Russias war in Ukraine, Canada, the US, the UK and Australia have banned imports of Russian oil, representing about 13 percent of Russias exports. NEW! Science advances, 3(1), e1600821. 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 of 2022, the US had the 11th largest oil reserves in the world at 35.23 billion barrels. This metric has been indicative to crude oil spot prices. Wahid, M. B., Abdullah, S. N. A., & IE, H. (2005). In 2021, oil demand returned as COVID-19 lockdowns eased worldwide, pushing prices higher. This is true for other tropical oilcrops such as coconut, groundnut, or soy. OPEC was created at the Baghdad Conference in 1960, with founding members Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. A situation analysis by the IUCN Oil Palm Task Force. Create a free IEA account to download our reports or subcribe to a paid service. Explore long-term changes in deforestation, and deforestation rates across the world today. By 2026, global effective spare production capacity (excluding Iran) could fall to 2.4mb/d, its lowest level since 2016. 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. The staggering inventory surplus that built up last year is being worked off and global oil stocks, excluding strategic reserves, will return to pre-pandemic levels in 2021. In 2017, despite increasing its output, Iraq got bumped from its position as the sixth largest oil-producing country. Therefore using this land to grow the crop is meeting other food demand at the same time. Many believe that boycotting palm oil is how we make a difference. Explore palm oil production across the world, and its impacts on the environment. You have the permission to use, distribute, and reproduce these in any medium, provided the source and authors are credited. 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. Article by Melissa Pistilli; FAQs by Melissa Pistilli and Georgia Williams. Oil and gas production from the UKCS has contributed 271 billion (2008 money) in tax revenues over the last forty years. If you want to produce one tonne of oil, you would need 4 times the amount of cropland devoted to sunflower or rapeseed, or 10 to 15 times the amount of land devoted to coconut production. In a large-scale consumer survey across the UK population on perceptions of vegetable oils, palm oil was deemed to be the least environmentally-friendly.1 It wasnt even close. Output in 2018 helped the Middle Eastern nation regain its sixth spot position. MarketWatch provides the latest stock market, financial and business news. To meet its own oil demand, the US must rely on oil imports from countries. A ban on using palm oil for biofuels would reduce this impact while allowing global palm oil to be used for purposes where there are few better alternatives food and cosmetic products. Sharp drop in crude oil production in the United Kingdom. The United Arab Emirates is an OPEC member, and has ranked among the world's top 10 oil-producing countries for decades. This is shown in green in the chart. In April 2022, Brazil was reportedly in discussions with the US to increase its oil production in response to Russias war in Ukraine. All the software and code that we write is open source and made available via GitHub under the permissive MIT license. 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. The World Crude Oil Production measures the number of barrels of crude oil that are produced per day in the world. In a context of global economic recovery, with increasing COVID-19 vaccination rates and loosening pandemic-related restrictions, oil demand expanded more rapidly than supply. Minimising emissions from their core operations, notably methane, is an urgent priority. European Journal of Lipid Science and Technology, 109(4), 307-314. The speed and depth of the recovery is likely to be uneven both geographically and in terms of sectors and products. Canada has been embroiled in a national debate over pipelines. The EU after China and India is the third largest importer of palm oil. Licence: CC BY 4.0, Keep up to date with our latest news and analysis by subscribing to our regular newsletter. According to the EIA, "Increased growth in pre-salt oil field production drives Brazil's crude oil production over the next decade, and exports of crude oil will likely increase as well." 8. Production has steadily increased over time, except in the 80s when production was lessened worldwide. 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. The centre of gravity for refined products trade is also set to shift to Asia, resulting in the regions oil import dependence rising to 82% by 2026. 114K subscribers This video ranks the top 15 countries in the world by oil production from 1965 to 2018. Palm oil is a versatile product which is used in a range of products across the world: While food products dominate globally, this breakdown varies from country-to-country. Venezuela's illegal . Visit our There are only two ways in which we can produce more of a given crop: increase yields (growing more on a given amount of land) or expand the amount of land we use to grow it. Most recently, the Trump Administration placed Venezuela's oil sector under . 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. The petrochemical industry remains a pillar of growth over the forecast period. Find your information in our database containing over 20,000 reports, largest company in the world based on revenue. Lets give these numbers some context. Who uses palm oil and what is it used for? history. Please consult our full legal disclaimer. The country holds less than 1% of the world's oil reserves - enough to last around 15 years. And why has the country seen its oil production plummet by more than 75% over the past decade? Net volumetric gains and losses in the refining process and marine transportation losses. This raw natural resource is a globally important commodity that can be traded both on the spot oil market and via derivatives contracts. History of Global Oil Consumption Many online grocery stores now offer the option to apply a palm-oil free filter when browsing their products.2. Texas leads the way as the biggest oil-producing state in the nation, with output nearly four times as high as the second biggest oil-producing state, New Mexico. This video shows the Top 20 countries by their total oil production from 1900 to 2020 (last 120 years). Austin, K. G., Schwantes, A., Gu, Y., & Kasibhatla, P. S. (2019). China recently signed a 25 year trade and security agreement with Iran, and has called on the US to drop its sanctions. The current price of WTI crude oil as of February 28, 2023 is $77.09 per barrel. Science, 365(6455), 756-757. In fact, only one-quarter of post-1973 plantations in the Borneo was driven by rapid conversion of this land to plantations (2021% oil-palm; 4.34.8% pulpwood). Compared with shorter-term data, the full-year figures are less prone to distortion from periodic maintenance shutdowns and other seasonal cycles. Peeling back the labelexploring sustainable palm oil ecolabelling and consumption in the United Kingdom. Founded in 1960, OPEC, or the Organization of the Petroleum Exporting Countries, is a group of 13 countries headquartered in Vienna, Austria. [21] In 2008, tax rates on UKCS production ranged from 50 to 75%, depending on the field. How can we use palm oil without destroying tropical forests? 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. How has the world achieved such a rapid expansion of palm oil production? Venezuela's heavy crude oil is especially prized by U.S. refiners. Vijay, V., Pimm, S. L., Jenkins, C. N., & Smith, S. J. Next on this list of the top 10 oil-producing countries is Canada. Crude oil production is defined as the quantities of oil extracted from the ground after the removal of inert matter or impurities. Nearly all of Canadas proven oil reserves are located in Alberta, and according to the provinces government, 97 percent of oil reserves there are in the form of oil sands. Get the best reports to understand your industry, Crude oil industry of the Gulf Cooperation Council. As a result, by 2026, global oil consumption is projected to reach 104.1mb/d. In fact, the Asian country is the top consumer of oil, with 55 percent of its imports coming from OPEC member countries. Figure 7. Our World In Data is a project of the Global Change Data Lab, a registered charity in England and Wales (Charity Number 1186433). According to the EIA, "Increased growth in pre-salt oil . In our base case which takes into account current industry plans, government policies and existing energy transition initiatives global oil demand is forecast to rise by 3.5 mb/d between 2019 and 2025. Effect of oil palm sustainability certification on deforestation and fire in Indonesia. Part of what makes this question so challenging to answer is that it depends on whether you only consider palm plantations which immediately and directly replaced existing forest, or whether you include plantations which very quickly replaced forests which had been logged for wood, paper and pulp. United Arab . CALGARY The Canadian Association of Petroleum Producers says it expects investment in oil and natural gas production in this country to hit $40 billion this year. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 600+ segments in 150+ countries, Insights on consumer attitudes and behavior worldwide, Business information on 60m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. At the same time, more and more governments are focusing on the potential for a sustainable recovery as a way to accelerate momentum towards a low-carbon future. Other producers include Thailand, Colombia, Nigeria, Guatemala, and Ecuador. Venezuela's oil production has shrunk by 75% over the past ten years, due largely to its own political missteps. Clicking on the following button will update the content below. Indonesia accounted for 57% of this (41 million tonnes), and Malaysia produced 27% (20 million tonnes).84% of global palm oil production comes from Indonesia and Malaysia. Firstly, they measure forest loss, which combines both permanent deforestation (where trees do not regrow) and forest degradation (which is a temporary thinning of forests with subsequent regrowth). Scientific reports, 6(1), 1-13. The volumes in the table do not include biofuel. Thank you for subscribing. The 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. 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 the worldwide oil industry, an. All the software and code that we write is open source and made available via GitHub under the permissive MIT license. Consumer demand for sustainable palm oil puts pressure on food and cosmetic companies to source from certified suppliers, and ultimately rewards the most sustainable growers. Lets take a look at how this comparison affects the global landscape of oilcrops in terms of production and land use. Heres a look at the top 10 oil-producing countries. Its output increased by 266,000 bpd from its 2020 level to reach 18,875,000 bpd last year. Download Data (XLS File) DOWNLOAD Thousand Barrels U.S. Field Production of Crude Oil U.S. Field Production of Crude Oil 1920 1930 1940 1950 1960 1970 1980 1990 2000 2010 2020 0 100,000 200,000 300,000 400,000 500,000 Data source: U.S. Energy Information Administration. Global production increased ten-fold since the 1960s from 17 to 170 million tonnes in 2014. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Leading global oil and gas producers based on revenue 2022, Proved crude oil reserves worldwide from 1990 to 2020 (in billion barrels), Oil production worldwide from 1998 to 2021 (in million metric tons), Daily demand for crude oil worldwide from 2006 to 2020, with a forecast until 2026* (in million barrels per day), Global crude oil investment returns 2010-2021, Return rate on crude oil investments worldwide from 2010 to 2021, Volume of crude oil and natural gas discoveries worldwide from 2015 to 2021 (in billion barrels of oil equivalent), Global proved oil reserves breakdown by country 1992-2020, Distribution of proved oil reserves worldwide in select years from 1992 to 2020, by region, Global oil reserves share by country 2020, Distribution of oil reserves worldwide in 2020, by country, Leading oil-producing countries worldwide in 2021 (in 1,000 barrels per day), Global seaborne trade volume of crude oil 2010-2021, Transport volume of crude oil in seaborne trade worldwide from 2010 to 2021 (in million metric tons), Leading crude oil and oil products exporters worldwide in 2021, by region or country (in 1,000 barrels per day), Global crude oil export value by country 2021, Countries with highest value of crude oil exports worldwide in 2021 (in billion U.S. dollars), Leading crude oil importers worldwide in 2021 (in 1,000 barrels per day), Average annual Brent crude oil price from 1976 to 2023 (in U.S. dollars per barrel), West Texas Intermediate annual average oil price 1976-2023, Average annual West Texas Intermediate (WTI) crude oil price from 1976 to 2023 (in U.S. dollars per barrel), Average annual OPEC crude oil price from 1960 to 2022 (in U.S. dollars per barrel), Oil consumption worldwide from 1970 to 2021 (in million metric tons), Global oil consumption share 2010 & 2021, by region, Oil consumption share worldwide in 2010 and 2021, by region, Leading oil-consuming countries worldwide in 2021 (in 1,000 barrels per day), Leading oil demanding sectors in the OECD 2020, Distribution of oil demand in the OECD in 2020, by sector, Leading oil and gas companies worldwide based on revenue as of 2022 (in billion U.S. dollars), Leading oil and gas producers based on market cap October 2022, Leading oil and gas companies worldwide based on market capitalization as of October 2022 (in billion U.S. dollars), Operating revenue of BP from 2005 to 2021* (in million U.S. dollars), Operating revenue of ExxonMobil from 2001 to 2021 (in million U.S. dollars), Revenue of Shell from 2005 to 2021 (in billion U.S. dollars), Value of revenue of Saudi Aramco 2017-2021, Value of revenue of Saudi Aramco from 2017 to 2021 (in billion U.S. dollars), Operating revenue of China Petroleum and Chemical Corporation (Sinopec) from 2010 to 2021 (in billion yuan), Global oil and gas investment volume 2019-2024, by sector, Estimated oil and gas investments across the value chain and by type from 2019 to 2021, with a forecast until 2024 (in billion U.S. dollars), Global upstream M&A deal values 2016-2021, Merger and acquisition transaction value in the oil and gas exploration and production industry worldwide from 2016 to 2021 (in billion U.S. dollars), Global oil and gas workforce by country 2019-2021, Estimated number of oil and gas industry employees worldwide from 2019 to 2021, by country (in 1,000s), Monthly global liquid fuels consumption 2019-2022, Monthly petroleum and other liquids consumption worldwide from August 2019 to November 2022, with a forecast until December 2023 (in million barrels per day), Monthly global liquid fuels consumption by region 2019-2023, Monthly petroleum and other liquids consumption worldwide from January 2019 to January 2022, with a forecast until December 2023, by select region and country (in million barrels per day), Global oil products demand outlook 2020-2045, Demand outlook for selected oil products worldwide from 2020 to 2045 (in million barrels per day), Oil and gas companies most affected in net zero emissions scenario 2030, Forecast oil and gas production in 2030 as a proportion of 2021 levels following net zero development scenario, by company*. Here I have calculated the actual yield of oil from each crop, rather than the yield of the total crop. When will countries phase out coal power? 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%. What activities are driving this? How has land use for palm oil changed over time? 41% of people thought palm oil was environmentally unfriendly, compared to 15% for soybean oil; 9% for rapeseed; 5% for sunflower; and 2% for olive oil. 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? In an oversupplied market suffering from a lack of demand, oil prices turned negative, shocking market participants. Forested in 1973 when browsing their products.2 that was previously forested in 1973 from each,... B., Abdullah, S. J article by Melissa Pistilli and Georgia Williams apply! 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