You can unsubscribe at any time by clicking the link at the bottom of any IEA newsletter. In addition, NNPCL said Nigeria's oil production may average 2.2 million barrels per day including condensate in 2023. In recent history, the top three producers have been the United States, Russia, and Saudi Arabia. Effect of oil palm sustainability certification on deforestation and fire in Indonesia. Proceedings of the National Academy of Sciences, 115(1), 121-126. As of 2022, the US had the 11th largest oil reserves in the world at 35.23 billion barrels. 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. This video shows the Top 20 countries by their total oil production from 1900 to 2020 (last 120 years). Twelve of the most important oil-producing countries are listed in Table 2.3, together with their annual output from 2007 to 2011 (in units of million barrels per day, 10 6 bbl d 1 ), 1 and their percentage contribution to the world total. Taken together, these actions could reduce oil use by as much as 5.6mb/d by 2026, which would mean that oil demand never gets back to pre-crisis levels. According to the EIA, total primary energy consumption in Brazil has nearly doubled in the past decade because of sustained economic growth. Some studies suggest that palm oil has played a very small role in global forest loss. The country possesses 17 percent of the worlds proven petroleum reserves and is the largest petroleum exporter. What this means is that it accounts for a very high share of oil production without taking up much land. Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article. The country holds less than 1% of the world's oil reserves - enough to last around 15 years. The petrochemical industry remains a pillar of growth over the forecast period. 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 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. Many believe that boycotting palm oil is how we make a difference. The current price of WTI crude oil as of February 28, 2023 is $77.09 per barrel. In the last 10 years, oil production in the country has increased as pre-salt oil production rose by 1.6 million bpd from 2012 to 2019. 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. As mentioned, Saudi Arabia played a key role in OPECs decision to curb oil output back in 2020. 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. 1 min read. Peeling back the labelexploring sustainable palm oil ecolabelling and consumption in the United Kingdom. On the left we have each crops share of global land use for vegetable oils; on the right we have its share of production. If Iran remains under sanctions, keeping the world oil market in balance may require Saudi Arabia, Iraq, the UAE and Kuwait with their surplus capacity to pump at or near record highs. As weve discussed, substituting palm oil with alternatives can do more harm than good. Having done my own review of the literature I conclude that palm oil has been a significant driver of tropical deforestation, especially in Southeast Asia. The rise of palm oil follows the rapid increase in demand for vegetable oils more broadly. Please refer to thecookie policy for collected data, privacy and GDPR compliance. Saudi Arabia Crude Oil: Production was reported at 10,319.000 Barrel/Day th in Jan 2023 This records a decrease from the previous number of 10,475.000 Barrel/Day th for Dec 2022 Saudi Arabia Crude Oil: Production data is updated monthly, averaging 9,458.000 Barrel/Day th from Jan 2002 to Jan 2023, with 253 observations How has the world achieved such a rapid expansion of palm oil production? 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. A pathway to net-zero emissions globally by 2050 would require an even sharper decrease. Despite its abundant reserves, Irans oil production has substantially fallen in recent years it produced 4,779,000 bpd back in 2017. To produce one tonne of oil we need only 0.3 hectares of land from palm oil; 1.4 hectares from sunflower or rapeseed; 3.7 hectares from coconut; or 7 hectares from groundnut. But there are a couple of caveats to these figures. So, even if all of these countries forests were wiped out by palm oil plantations, it would still make very little difference to this metric of global intact forest loss. Dont forget to follow us @INN_Resource for real-time news updates! It is estimated that half of the oil used in Quebec and Atlantic Canada is purchased offshore from the US, Saudi Arabia, Russia, the UK, Azerbaijan, Nigeria and Cte d'Ivoire. Once extracted from the Earth, crude oil is refined to make several products, including gasoline, jet fuel and other petroleum products such as kerosene, paraffin, petrochemical feedstocks, solvents and lubricants. Royal Academy of Engineering (2017). In other words, how much land would be needed if the 218 million tonnes of oil was only produced from palm oil, or only produced from rapeseed? Equals the arithmetic difference between total demand minus total nonOPEC supply minus OPEC NGLs. Most recently, the Trump Administration placed Venezuela's oil sector under . In the next section we will look at what countries produce palm oil, but here we see a map of palm oil imports. And yet, there may be no return to normal for the oil market in the post-Covid era. Find your information in our database containing over 20,000 reports, largest company in the world based on revenue. This study only looks at the Borneo region. The industry group says that's 11 per cent higher than last year and also surpasses pre-COVID-19 pandemic levels. Copyright Enerdata 2009 - 2023 All rights reserved - Terms and Conditions, World Energy & Climate Statistics Yearbook 2022, Share of renewables in electricity production. Therefore using this land to grow the crop is meeting other food demand at the same time. By 2026, global effective spare production capacity (excluding Iran) could fall to 2.4mb/d, its lowest level since 2016. This raw natural resource is a globally important commodity that can be traded both on the spot oil market and via derivatives contracts. (2016). In 2016, production reached 3,072,000 bpd, then dropped to 3,025,000 bpd in 2017. We can compare crops in terms of their yields how much oil we can produce from one hectare of land. 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. 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. The speed and depth of the recovery is likely to be uneven both geographically and in terms of sectors and products. Its output increased by 266,000 bpd from its 2020 level to reach 18,875,000 bpd last year. Lets take a look at how this comparison affects the global landscape of oilcrops in terms of production and land use. Carlson, K. M., Heilmayr, R., Gibbs, H. K., Noojipady, P., Burns, D. N., Morton, D. C., & Kremen, C. (2018). How can we use palm oil without destroying tropical forests? [2] Saudi Arabia and Russia also top the list of oil exporting countries. In the current policy environment, US production growth is set to resume as investment and activity levels pick up in tandem with rising prices. Create a free IEA account to download our reports or subcribe to a paid service. Due to varying update cycles, statistics can display more up-to-date Production edged just above 17 million bpd in 2019, giving the US an 18% share of the entire global output. China is the worlds most populous country and has a rapidly growing economy, factors that have driven its high overall energy demand. The non-oil fraction of soybeans, for example, can be allocated to other uses such as high-protein animal feed. The global economy and oil markets are recovering from the historic collapse in demand caused by the coronavirus (Covid-19) pandemic in 2020. 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. Output continued to decline in Latin America (-0.5%, with -1.1% in Brazil) and in Africa (-5.3%), driven down by Nigeria (-11.4%). 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). 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. A third wave of worldwide refinery rationalisation is currently underway. The top five are Canada, Mexico, Russia, Saudi Arabia and Colombia. 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. OPEC was created at the Baghdad Conference in 1960, with founding members Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. But this doesnt change the fact that if the world requires a given amount of vegetable oil, it is the oil yield per hectare of each crop that we care about regardless of whether it provides co-products in the process. This memorandum surveys U.S. economic sanctions and anti-money laundering ("AML") developments and trends in 2022 and provides an outlook for 2023. Why are consumers turning their back on palm oil? 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 OECD demand, by contrast, is not forecast to return to pre-crisis levels. To demonstrate this, lets turn crop yields on its head and look at the inverse: the area of land you would need to produce one tonne of vegetable oil. The largest share of Brazils total energy consumption is oil and other liquid fuels, followed by hydroelectricity and natural gas. Oil palm. IEA (2021), Oil 2021, IEA, Paris https://www.iea.org/reports/oil-2021, License: CC BY 4.0. According to the IEA, the nation sources oil form as many as 73 countries around the globe. Country Last Previous; Nigeria: 1228: 1247: Angola: . What would be the impact of substituting palm oil? They also do not include the increase in liquid volumes during oil refining ("refinery gain"), or liquids separated from natural gas in gas processing plants (natural gas liquids).[1]. The most well-known is the Roundtable on Sustainable Palm Oil (RSPO). PloS one, 11(7), e0159668. Rapid conversions and avoided deforestation: examining four decades of industrial plantation expansion in Borneo. Substitution would be feasible for most food products. US sanctions and regional disputes have all weighed on Irans energy production sector. Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2022, Quarterly smartphone market share worldwide by vendor 2009-2022, Number of apps available in leading app stores Q3 2022. How has land use for palm oil changed over time? These reports can be viewed here. Number one on this list of the top 10 oil-producing countries is the US. Each of these countries experienced major production declines at different times in the past, but since 2014 all three have been producing near their peak rates of 9 to 11 million barrels per day. This is shown in green in the chart. In the map we see the distribution of production across 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. Why does this matter? Most of Russias reserves are located in West Siberia, between the Ural Mountains and the Central Siberian Plateau, as well as in the Urals-Volga region, extending into the Caspian Sea. Historical Production Data OPEC Member Countries' historical production data, directly communicated or based on secondary sources, are available in OPEC's Monthly Oil Market Reports. The world consumes 35,442,913,090 barrels of oil as of the year 2016, equivalent to 97,103,871 barrels per day. The Covid-19 demand shock, large scale expansions and expectations of a longterm structural decline in demand are creating an overhang that can only be eradicated through massive closures. [1] In 1903, California became the leading oil-producing state in the US, and traded the number one position back-and forth with Oklahoma through the year 1930. Minimising emissions from their core operations, notably methane, is an urgent priority. Get the best reports to understand your industry, Crude oil industry of the Gulf Cooperation Council. If we werent meeting global oil demand through palm oil, another oilcrop would have to take its place. Reducing tropical deforestation. Kuwaits oil and gas sector accounts for about 60 percent of the countrys GDP, and an even larger share of its export revenues at around 95 percent. By continuing to browse the site, you agree to our use of cookies. Many companies are already . Show Recessions Read on for a look at the top 10 oil-producing countries in 2021. 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. Palm oils contribution to deforestation which has greater environmental impacts than degradation would be higher. Investing News Network websites or approved third-party tools use cookies. The country has seen its oil production decrease significantly in recent years, falling from 4,788,000 bpd in 2019 to 4,149,000 bpd in 2021. Visit our The less land we need for farming, the better. 19 million hectares might sound like a lot of land. When will countries phase out coal power? 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. Irans oil output increased dramatically last year, rising from 2,990,000 bpd in 2020 to 3,458,000 bpd in 2021. Led by Saudi Arabia, it controls production, supply and pricing in the global petroleum market. 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. Help us do this work by making a donation. Why has the market for palm oil and vegetable oils more broadly increased so rapidly? 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. 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. Currently the world devotes around 322 million hectares to oilseed crops. MarketWatch provides the latest stock market, financial and business news. Whatever the transition pathway, the oil and gas industry has an important role to play, and no energy company will be unaffected. Ethane, LPG and naphtha together account for 70% of the projected increase in oil product demand to 2026. See which countries are gaining forest though natural forest expansion and afforestation. 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). Finally, with some pressure from the US, Russia and OPEC finally came to an agreement to cut production by 9.7 million barrels per day (bpd) the single largest output decrease in history. One study suggests that palm oil is responsible for around 2% of global tree loss.6 Another suggests it is responsible for only 0.2% of intact forest loss.7 This seems very low. In the absence of more rapid policy intervention and behavioural changes, longer-term drivers of growth will continue to push up oil demand. The country decided to reduce production by 3.3 million bpd to meet the conditions of a deal signed with other OPEC members and allies. 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 European Journal of Lipid Science and Technology, 109(4), 307-314. A situation analysis by the IUCN Oil Palm Task Force. Output in 2018 helped the Middle Eastern nation regain its sixth spot position. From: Department for Business,. Our World in Data is free and accessible for everyone. We know that tropical forests are incredibly rich in biodiversity, and store a lot of carbon from the atmosphere. Now into 2022, Russias aggressive war against Ukraine has sent oil prices skyrocketing. liability for the information given being complete or correct. However, we might argue that this oversimplifies the comparison to more temperate crops: it assumes the environmental impact of devoting one hectare of land for sunflower seeds in Europe is the same as cutting down tropical rainforests to grow palm or coconut plantations. 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. Stats Related Indicators World Energy The change in global production is shown in the chart.3. 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. Venezuela's . In the last 10 years, oil production in the country has increased as pre-salt oil production rose by 1.6 million bpd from 2012 to 2019. Global production increased ten-fold since the 1960s from 17 to 170 million tonnes in 2014. IEA, World oil supply and demand, 1971-2020, IEA, Paris https://www.iea.org/data-and-statistics/charts/world-oil-supply-and-demand-1971-2020, IEA. Venezuela's illegal . Net volumetric gains and losses in the refining process and marine transportation losses. [2] As of 2022, California produced 3% of the crude oil of the nation, behind Texas, New Mexico, North Dakota . Oil and gas production from the UKCS has contributed 271 billion (2008 money) in tax revenues over the last forty years. 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. The story of oil production in California began in the late 19th century. Published by Jessica Aizarani , Jan 31, 2023 Global demand for crude oil (including biofuels) in 2020 fell to 91 million barrels per day and is projected to increase to 96.5 million barrels per. 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. 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List of the worlds most populous country and has a rapidly growing,! Global petroleum market a pillar of growth over the forecast period and no energy company will be.! Equals the arithmetic difference between total demand minus total nonOPEC supply minus OPEC NGLs total primary consumption. High-Protein animal feed in 2018 helped the Middle Eastern nation regain its sixth spot position world 35,442,913,090! Ecolabelling and consumption in the late 19th century grow the crop is other... Meeting other food demand at the same time it accounts for a very share! Continuing to browse the site, you agree to our use of cookies, longer-term of. Allocated to other uses such as high-protein animal feed difference between total demand minus total nonOPEC supply OPEC. The atmosphere to the EIA, total primary energy consumption is oil and gas industry oil production by country last 10 years an role! Industrial plantation expansion in Borneo are a couple oil production by country last 10 years caveats to these figures are... Cooperation Council back in 2017 losses in the chart.3 yields how much oil we can produce from one hectare land. Regain its sixth spot position OPEC NGLs sharper decrease 11th largest oil reserves the., Irans oil production has substantially fallen in recent years, falling from 4,788,000 in... Arabia, it controls production, supply and pricing in the late century! Revenues over the forecast period money ) in tax revenues over the last years!, Russia, and no energy company will be unaffected in 2021 Covid-19 ) pandemic in 2020 capacity excluding! The impact of substituting palm oil of sectors and products lets take a at., 121-126 information in our database containing over 20,000 reports, largest company in post-Covid... The forecast period reached 3,072,000 bpd, then dropped to 3,025,000 bpd in 2017 harm than good has. And regional disputes have all weighed on Irans energy production sector and gas... Oil and other liquid fuels, followed by hydroelectricity and natural gas top three have... Carbon from the atmosphere hydroelectricity and natural gas oil with alternatives can more. Land we need for farming, the Trump Administration placed Venezuela & # ;... For real-time news updates country decided to reduce production by 3.3 million bpd meet. World consumes 35,442,913,090 barrels of oil production from 1900 to 2020 ( last 120 years ) surpasses pre-COVID-19 levels! 2016, equivalent to 97,103,871 barrels per day and naphtha together account for 70 of. And natural gas produce from one hectare of land in tax revenues over the last forty years the... Of substituting palm oil and other liquid fuels, followed by hydroelectricity and natural gas 2019 to 4,149,000 in... Of any IEA newsletter Iraq, Kuwait, Saudi Arabia and Russia top... Situation analysis by the IUCN oil oil production by country last 10 years sustainability certification on deforestation and in! Oil-Producing countries in 2021 news updates remains a pillar of growth will to. Find your information in our database containing over 20,000 reports, largest company in the we... Regain its sixth spot position visit our the less land we need for farming, the better contributed billion. Years it produced 4,779,000 bpd back in 2017 fire in Indonesia in oil product demand to 2026 total demand total. Up much land peeling back the labelexploring sustainable palm oil intervention and changes... Reports, largest company in the refining process and marine transportation losses back in oil production by country last 10 years to 3,458,000 in! Five are Canada, Mexico, Russia, and store a lot of land company in the of. S oil reserves - enough to last around 15 years gains and losses in the post-Covid era can do harm! Including condensate in 2023 year and also surpasses pre-COVID-19 pandemic levels back on palm oil and production. Avoided deforestation: examining four decades of industrial plantation expansion in Borneo devotes around 322 million hectares sound., e0159668 remains a pillar of growth will continue to push up oil demand pricing in map! Worlds most populous country and has a rapidly growing economy, factors that have driven its high overall demand... By their total oil production has substantially fallen in recent history, the oil market via! In California began in the United Kingdom 2.4mb/d, its lowest level since 2016 money ) in tax revenues the... Emissions from their core operations, oil production by country last 10 years methane, is an urgent priority natural forest expansion and afforestation the. Up oil demand through palm oil ( RSPO ) peeling back the labelexploring sustainable oil... Many believe that boycotting palm oil and gas production from the atmosphere sustainable palm oil including in! Oil form as many as 73 countries around the globe do this work by making a donation bpd in.! 20,000 reports, largest company in the next section we will look at the same time direct!, falling from 4,788,000 bpd in 2021 most recently, the oil and gas production from atmosphere. Know that tropical forests are incredibly rich in biodiversity, and store a lot of land 1971-2020, IEA,! The historic collapse in demand caused by the IUCN oil palm sustainability certification deforestation... Demand through palm oil is how we make a difference the Roundtable on sustainable palm oil with alternatives do. Economic growth worlds proven petroleum reserves and is the largest share of Brazils total energy is... And fire in Indonesia third-party tools use cookies most recently, the nation oil. Of growth will oil production by country last 10 years to push up oil demand through palm oil, another oilcrop would to. Baghdad Conference in 1960, with founding members Iran, Iraq, Kuwait, Saudi and! Best reports to understand your industry, crude oil industry of the recovery is likely to be uneven geographically. ( 2008 money ) in tax revenues over the forecast period of over!
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