Chinas annual oil output was 4,993,000 bpd in 2021. Sunflower oil was almost exactly proportional in terms of how much oil it produced relative to how much land it took up: it produced 9% of oil, and required 8.3% of land. Environmental Research Letters, 14(5), 055003. Direct deforestation for palm oil played a larger role in Malaysia; 60% was driven by plantations, whilst in Indonesia it was only 16%. A meta-analysis conducted by the Royal Academy of Engineering on EU biofuels found that when we factored in land-use change, the greenhouse gas emissions from palm oil were higher than using a petrol car.14 Other studies have shown that when we take the additional environmental impacts into account, these biofuels are much worse than conventional fuels.15 By using palm oil, EU countries are not only increasing emissions, theyre passing the responsibility and accountability of these emissions on to other countries. In 2021, it saw a small year-on-year increase in production, with oil output rising to 3,786,000 bpd. 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. But has this expansion came at the expense of tropical forest? According to the 2022 BP Statistical Review of World Energy, Venezuela has more proved oil reserves than any other country in the world. (2018). Indonesia accounted for 57% of this (41 million tonnes), and Malaysia produced 27% (20 million tonnes). The United Kingdom consumes 1,583,896 barrels per day (B/d) of oil as of the year 2016.; The United Kingdom ranks 15th in the world for oil consumption, accounting for about 1.6% of the world's total consumption of 97,103,871 barrels per day. Retailers know that this is becoming an important driver of consumer choices. The last frontiers of wilderness: Tracking loss of intact forest landscapes from 2000 to 2013. "}.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. This would represent an increase of 4.4 mb/d from 2019 levels. [5][6], .mw-parser-output table.static-row-numbers{counter-reset:rowNumber}body.skin-minerva .mw-parser-output .static-row-numbers2.sortable{counter-reset:rowNumber -1}body.skin-minerva .mw-parser-output .static-row-numbers2.sortable.static-row-header-two{counter-reset:rowNumber -2}.mw-parser-output table.static-row-numbers tr::before{display:table-cell;padding-right:0.5em;text-align:right}.mw-parser-output table.static-row-numbers tr::before{content:""}.mw-parser-output .static-row-numbers-skip{counter-increment:rowNumber}.mw-parser-output table.static-row-numbers.sortable tbody tr:not(.static-row-header):not(.static-row-numbers-norank)::before,.mw-parser-output table.static-row-numbers:not(.sortable) tbody tr:not(:first-child):not(.static-row-header):not(.static-row-numbers-norank)::before{counter-increment:rowNumber;content:counter(rowNumber);padding-right:0.5em;padding-left:0.5em;vertical-align:inherit}.mw-parser-output .static-row-header-text thead tr::before{content:"No. Ostfeld, R., Howarth, D., Reiner, D., & Krasny, P. (2019). Chart Tools. Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article. This is true for other tropical oilcrops such as coconut, groundnut, or soy. Share of top producing countries in extraction of selected minerals and fossil fuels, 2019 Open % Minerals Oil Natural gas Copper Nickel Cobalt Graphite Rare earths Lithium 0 20 40 60 80 Fossil fuels United States Saudi Arabia Russia Iran China Australia Chile Democratic Republic of the Congo Indonesia Philippines Myanmar Peru Mozambique Brazil You have permission to use, distribute, and reproduce these in any medium, provided the source and authors are credited. In April 2022, Brazil was reportedly in discussions with the US to increase its oil production in response to Russias war in Ukraine. We know that tropical forests are incredibly rich in biodiversity, and store a lot of carbon from the atmosphere. An example of this is in 1990 when production steeply declined, leading to the WTI Crude Oil and Brent Crude Oil Spot prices to abrubtly increase. A situation analysis by the IUCN Oil Palm Task Force, Deforestation displaced: trade in forest-risk commodities and the prospects for a global forest transition, The last frontiers of wilderness: Tracking loss of intact forest landscapes from 2000 to 2013, Rapid conversions and avoided deforestation: examining four decades of industrial plantation expansion in Borneo, The impacts of oil palm on recent deforestation and biodiversity loss, Effect of oil palm sustainability certification on deforestation and fire in Indonesia. The Dominant Oil Producing States Impressively, 71% of total U.S. oil production came from just five states. The country holds less than 1% of the world's oil reserves - enough to last around 15 years. 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 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. Now into 2022, Russias aggressive war against Ukraine has sent oil prices skyrocketing. Our World In Data is a project of the Global Change Data Lab, a registered charity in England and Wales (Charity Number 1186433). Interactive visualization requires JavaScript. From: Department for Business,. At the end of 2018, the state-owned Kuwait Petroleum Corporation announced its intention to increase oil production to 4mbbl/day by 2020, through an investment plan worth approximately $115bn. OPEC crude oil production to December 31, 2021,. Stats Related Indicators World Energy 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 current pace, American production will decline to less than 11 million barrels a day by the end of the year, from 13.3 million barrels a day at the end of 2019. Almost 90% of the average annual crude oil production from new sources globally in 2040 breaks even below $50/bbl Brent, while 44% breaks even at prices of $40/bbl or below. This is shown in green in the chart. Producers from the Middle East are expected to provide half of the increase, largely from existing shut-in capacity. The output control deal made between the Organization of the Petroleum Exporting Countries (OPEC) and 11 of the worlds top oil producers expired in 2020. In the current policy environment, US production growth is set to resume as investment and activity levels pick up in tandem with rising prices. 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. Show Recessions 1 min read. 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*. This text provides general information. In 2021, oil demand returned as COVID-19 lockdowns eased worldwide, pushing prices higher. Number one on this list of the top 10 oil-producing countries is the US. Palm oil production has grown to meet rising demands for vegetable oils. The World Crude Oil Production measures the number of barrels of crude oil that are produced per day in the world. Potapov, P., Hansen, M. C., Laestadius, L., Turubanova, S., Yaroshenko, A., Thies, C., & Esipova, E. (2017). Why are consumers turning their back on palm oil? The petrochemical industry remains a pillar of growth over the forecast period. As we will see later in this article, more recent data for 2018 comes to 218 million tonnes. The price of oil shown is adjusted for inflation using the headline CPI and is shown by default on a logarithmic scale. Clicking on the following button will update the content below. Get in touch with us. There are now a number of certification schemes which help to verify whether palm oil is being produced in a sustainable way. In this sense, palm oil has been a land sparing crop. data than referenced in the text. Palm oil is unique in its versatility, meaning it is suitable for a range of foods, cosmetics, industrial applications and biofuels. Global crude oil output rose by less than 1% in 2021 after a 7.4% drop in 2020. This comparison is shown in the chart.12 Palm oil stands out immediately. By 2026, global effective spare production capacity (excluding Iran) could fall to 2.4mb/d, its lowest level since 2016. Read on for a look at the top 10 oil-producing countries in 2021. 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, Need help with your purchase ? Please consult our full legal disclaimer. 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. 4. 43% also answered Dont know, meaning that almost no one thought it was good. Proceedings of the National Academy of Sciences, 115(1), 121-126. 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. All the software and code that we write is open source and made available via GitHub under the permissive MIT license. 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. Sciences, 115 ( 1 ), 055003 around 15 years 10 oil-producing in. In any company mentioned in this article % also answered Dont know, meaning that almost no one thought was. Production has grown to meet rising demands for vegetable oils U.S. oil production measures the number barrels... 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