In fact, because we can produce up to 20 times as much oil per hectare from palm versus the alternatives, it has probably spared a lot of environmental impacts from elsewhere. If global oil was supplied solely from palm, wed need 77 million hectares, around four times less. ";padding-right:0.5em;padding-left:0.5em;font-weight:bold}.mw-parser-output .static-row-header-hash thead tr::before{content:"#";padding-right:0.5em;padding-left:0.5em;font-weight:bold}.mw-parser-output .static-row-header-row thead tr::before{content:"Row";padding-right:0.5em;padding-left:0.5em;font-weight:bold}body:not(.skin-minerva) .mw-parser-output .static-row-numbers.wikitable tr::before{background-color:#eaecf0;vertical-align:middle}body:not(.skin-minerva) .mw-parser-output .static-row-numbers.mw-datatable:not(.wikitable) tr::before{background-color:#eaeeff}.mw-parser-output table.static-row-numbers.wikitable tbody tr:not(.static-row-header)::before,body:not(.skin-minerva) .mw-parser-output .static-row-numbers.mw-datatable:not(.wikitable) tbody tr::before{border:1px solid #a2a9b1}.mw-parser-output .static-row-numbers-period2 tbody tr::before{content:counter(rowNumber)". Here I have calculated the actual yield of oil from each crop, rather than the yield of the total crop. In recent history, the top three producers have been the United States, Russia, and Saudi Arabia. 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. 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 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. According to the 2022 BP Statistical Review of World Energy, Venezuela has more proved oil reserves than any other country in the world. As the country records increasing rig counts and crude production, its . World crude oil price vs. oil consumption. How has land use for palm oil changed over time? Royal Academy of Engineering (2017). Compare Crude Oil Production by Country Canadian 10-Year Bond Yield Rises to 3-Month High Canadian Dollar Depreciates after Inflation Data Rupee Hovers Close to Record Low Canadian Retail Sales Growth Seen Stronger in January Canadian Inflation Drops More than Expected Italian 10-Year BTP Yield Rises to 7-Week High When will countries phase out coal power? Effect of oil palm sustainability certification on deforestation and fire in Indonesia. IEA (2021), Oil 2021, IEA, Paris https://www.iea.org/reports/oil-2021, License: CC BY 4.0. Global palm yields have increased over time, but far short of the increase in demand. Aviation fuels, the hardest hit by the crisis, are expected to slowly return to 2019 levels by 2024, but the spread of online meetings could permanently alter business travel trends. Environmental Research Letters, 14(1), 014001. In the absence of more rapid policy intervention and behavioural changes, longer-term drivers of growth will continue to push up oil demand. However, because of economic and political considerations, Canada is developing ways to diversify its trading partners, especially by expanding ties with emerging markets in Asia. (2018). In Germany, for example, bioenergy is the largest use, accounting for 41% (more than food at 40%). Palm oil is a very productive crop; as we will see later, it produces 36% of the worlds oil, but uses less than 9% of croplands devoted to oil production. [2] As of 2022, California produced 3% of the crude oil of the nation, behind Texas, New Mexico, North Dakota . How Has COVID-19 Impacted Oil Supply and Demand? You can unsubscribe at any time by clicking the link at the bottom of any IEA newsletter. 3. Palm oil achieves very high yields relative to other oilcrops. We know from our yield comparison that palm oil achieves a much higher yield. 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. 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. A number of oil and gas companies are already scaling up their commitments in these areas. Are you interested in testing our business solutions? Venezuela's . As mentioned, Saudi Arabia played a key role in OPECs decision to curb oil output back in 2020. 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%. Help us do this work by making a donation. Although the US is the worlds largest oil producer, its domestic oil consumption far outpaces its homegrown output. 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? Show Recessions Now into 2022, Russias aggressive war against Ukraine has sent oil prices skyrocketing. Since 1980 the amount of land the world uses to grow palm has more than quadrupled, from 4 million to 19 million hectares in 2018. 4. 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. According to the EIA, total primary energy consumption in Brazil has nearly doubled in the past decade because of sustained economic growth. 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. Increase companies sourcing from suppliers with sustainability certification. The rest soybean, olive, coconut, groundnut, and sesameseed used more land than they gave back in oil 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. 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. In 2018, the world produced 72 million tonnes of oil palm. 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. But as weve seen, the alternatives are not necessarily better; more sustainable palm oil (used for food, not fuel) rather than no palm oil is what we should be pushing for. The story of palm oil is not as simple as it is often portrayed. In addition to being the world's largest oil producer, the United States also imports upwards of 8 million barrels . Our World In Data is a project of the Global Change Data Lab, a registered charity in England and Wales (Charity Number 1186433). Why are consumers turning their back on palm oil? Oil demand in 2025 is set to be 2.5 mb/d lower than was forecast a year ago in our Oil 2020 report. Reducing tropical deforestation. Values shown are in thousands of barrels produced per day. Given these and other recent market events, many investors are curious to know which countries produce the most oil, and may be able to fill the gap if the west places further sanctions on Russia. As the third largest oil-producing nation, Russia accounts for 10 percent of global output. 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. 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. Both are far ahead of U.S. proved reserves of 69 billion barrels. 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. 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. 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. 75% of these plantations were grown on land that was previously forested in 1973. *Billed as $19.00 plus GST . 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. It also shows crude oil production excluding the two countries which have recently been subject to sanctions: Iran and Venezuela. Nearly all of Canada's proven oil reserves are located in Alberta, and. Production has steadily increased over time, except in the 80s when production was lessened worldwide. Proceedings of the National Academy of Sciences, 115(1), 121-126. Nigeria produces every year an . But there are a couple of caveats to these figures. Some sectors such as aviation, shipping and petrochemicals will continue to rely on oil for some time. In 2020, the start of our forecast period, oil demand was nearly 9mb/d below the level seen in 2019, and it is not expected to return to that level before 2023. Is palm oil responsible for deforestation? In 2016, production reached 3,072,000 bpd, then dropped to 3,025,000 bpd in 2017. Currently the world devotes around 322 million hectares to oilseed crops. The countrys annual oil production rose to 5,558,000 bpd in 2021, up from 2020s output levels of 5,235,000 bpd. But, most of the research concludes that, particularly in tropical forests in Southeast Asia, palm expansion has played a significant role. Yet any increase is unlikely to match the lofty levels of the recent past. Output in 2018 helped the Middle Eastern nation regain its sixth spot position. In 2021, the US crude oil production (17% of global output) increased by 1.3%. Total Non-OPEC excludes all countries that are currently members of OPEC. Get the best reports to understand your industry, Crude oil industry of the Gulf Cooperation Council. Thats around four times higher than alternatives such as sunflower or rapeseed oil (where you get about 0.7 tonnes per hectare); and 10 to 15 times higher than popular alternatives such as coconut or groundnut oil .13. Oil palm and biodiversity. Ethane, LPG and naphtha together account for 70% of the projected increase in oil product demand to 2026. Like most oil-producing countries, Brazil's oil exports decreased in recent months, due to the lower global demand. 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. What this means is that it accounts for a very high share of oil production without taking up much land. 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. Figure 7. How has the world achieved such a rapid expansion of palm oil production? 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? [2] Saudi Arabia and Russia also top the list of oil exporting countries. Lets focus on the two key countries driving production: Indonesia and Malaysia. Whatever the transition pathway, the oil and gas industry has an important role to play, and no energy company will be unaffected. 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 comparison by crop is shown here. Explore long-term changes in deforestation, and deforestation rates across the world today. The speed and depth of the recovery is likely to be uneven both geographically and in terms of sectors and products. In early September 2022, Bloomberg reported that US oil production was down because the countrys shale producers have prioritized dividend payouts to shareholders rather than investing record profits from surging oil prices back into growing their production capacity. [3] The monthly U.S. oil production reached 12.86million b/d in November 2019, the highest monthly level of crude oil production in U.S. Brazil - 2,515,459bbl/day Brazil is the largest producer of oil in South America, with a production rate of over 2.5mbbl/day. While the upstream sector could see its capacity cushion deflate, the refining sector is struggling with excess capacity. The world loses 5 million hectares of forest to deforestation each year. Many companies are already . 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%). In addition, there are technologies vital to energy transitions that can be a match for the industrys capabilities, such as carbon capture, low-carbon hydrogen, biofuels and offshore wind. 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. Third, it gets incredibly high yields. Get in touch with us. Would the alternatives be any better for the environment? Only 6% of global intact forest is in Southeast Asia, the hotspot of palm oil expansion. The global economy and oil markets are recovering from the historic collapse in demand caused by the coronavirus (Covid-19) pandemic in 2020. Create a free IEA account to download our reports or subcribe to a paid service. Operations east of Suez are expected account for all the growth in refining activity to 2026 from 2019 levels. [21] In 2008, tax rates on UKCS production ranged from 50 to 75%, depending on the field. World Oil Consumption is at a current level of 94.09M, up from 88.75M one year ago. If we werent meeting global oil demand through palm oil, another oilcrop would have to take its place. [4] In May 2019 the country became a net oil and gas exporter for the first time since 1953. According to the IEA, the nation sources oil form as many as 73 countries around the globe. This is shown for the Indonesian and Malaysian Borneo in the chart. This is not the case for biofuels, yet two-thirds of the EUs imported palm oil goes to bioenergy production. Our World in Data is free and accessible for everyone. Statistics are from the Energy Information Administration (EIA) and include total production of petroleum and other liquids. 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 situation analysis by the IUCN Oil Palm Task Force. Other emerging markets oil producers have potential to ramp up production, but the expected volume and destinations of exports, as well as whether production goals will be realised, remain to be seen.. Argentina is among the most promising, as its large-scale Vaca Muerte shale field comes on-line after years of development.The country's unconventional oil production reached 282,000 bpd in . In the chart here we see the change in land use. , Top 5 US Oil and Gas Dividend Stocks in 2023. Stats This is true for other tropical oilcrops such as coconut, groundnut, or soy. 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. Both of these metrics are sourced from the UN Food and Agriculture Organization (FAO). There are some products where using palm is our best option. European Journal of Lipid Science and Technology, 109(4), 307-314. The US is the top producer of oil, but the country requires foreign imports to meet its increasing domestic demand. The top 10 countries with the highest crude oil production. 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). So, how much of palm oils expansion has really come at the expense of forests? Together, these three countries combine for 39.1% of global oil production, and about 24.9% of the world's proven oil reserves. Production edged just above 17 million bpd in 2019, giving the US an 18% share of the entire global output. 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. That marks a dramatic change from recent years when the United States dominated world supply growth. 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). Rapid conversions and avoided deforestation: examining four decades of industrial plantation expansion in Borneo. Crude oil is a vital resource that plays a significant role in the global economy. The implications of a potential loss of Russian oil exports to global markets cannot be understated, the IEA stated. The story of oil production in California began in the late 19th century. When citing this topic page, please also cite the underlying data sources. Top ten largest oil-producing countries in 2019 1. 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. [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. Licenses: All visualizations, data, and articles produced by Our World in Data are open access under the Creative Commons BY license. A much stronger pivot towards a cleaner energy future will be required to reach ambitious mid-century goals for net-zero emissions. 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. The global market still looks adequately supplied through much of the medium term. Energy stocks outperformed last year, with the sector generally gaining 59% in a year when the S&P 500 dropped 19%. The world devotes more than 300 million hectares for oilcrop production. As weve discussed, substituting palm oil with alternatives can do more harm than good. To do this effectively, understanding for consumers has to be clearer. Nigeria's oil production crashes to 900,000b/d. Oil palm is a tropical plant species. To have a real, permanent impact, certification needs to cover a much larger number of growers. But in the absence of fresh upstream investments, the spare capacity cushion will slowly erode. 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. All the information presented in this energy data tool are extracted from Global Energy & CO2 Data service, the most comprehensive and up-to-date database on crude oil, NGL, non-conventional oil and refined oil products: production, trades, reserves, transformation, prices, consumption per sector and indicators. Top 5 Canadian Oil and Gas Dividend Stocks in 2022. Potapov, P., Hansen, M. C., Laestadius, L., Turubanova, S., Yaroshenko, A., Thies, C., & Esipova, E. (2017). 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 This is a change of 0.12% from last month and 3.48% from one year ago. European countries should stop using palm oil for biofuels. 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. Founded in 1960, OPEC, or the Organization of the Petroleum Exporting Countries, is a group of 13 countries headquartered in Vienna, Austria. NEW! China recently signed a 25 year trade and security agreement with Iran, and has called on the US to drop its sanctions. 2. Producers from the Middle East are expected to provide half of the increase, largely from existing shut-in capacity. Substitution in industrial processes would be more difficult, especially if we want to replace it with oils grown in temperate countries: sunflower or rapeseed oil is not suited to products such as soaps, detergents or cosmetics. 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. This is based on reported figures as of November 2020. The impacts of oil palm on recent deforestation and biodiversity loss. As we will see later in this article, more recent data for 2018 comes to 218 million tonnes. 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. 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 ? 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. 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 top five are Canada, Mexico, Russia, Saudi Arabia and Colombia. This seems like a simple question, but is not as straightforward as we might expect. From: Department for Business,. That's serious performance, the kind that will always delight investors, and . ; The United Kingdom consumes 1.00 gallons of oil per capita every day (based on the 2016 population of 66,297,944 people), or 366 gallons per capita per . The change in global production is shown in the chart.3. It includes crude oil, natural gas liquids (NGLs) and additives. OPEC countries, including Saudi Arabia, made up the largest share of production at 35% or 1.5 billion tonnes of oil. The World Crude Oil Production measures the number of barrels of crude oil that are produced per day in the world. Statista assumes no 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. Interactive visualization requires JavaScript. 2023 Battery Metals Outlook: Australia Edition, NEW! 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. 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. Our World In Data is a project of the Global Change Data Lab, a registered charity in England and Wales (Charity Number 1186433). Last on this list of the top 10 oil-producing countries is Kuwait, whose output decreased in 2021 for the third time since 2018. The United States. 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. Saudi Arabias oil output came in at 10,835,000 bpd in 2021. This raw natural resource is a globally important commodity that can be traded both on the spot oil market and via derivatives contracts. This trend is forecast to continue into 2023. There are a couple of reasons why palm oil has been the favored crop to meet growing demand for vegetable oils. By December 2019, it was producing 3.10 million bpd - up by 0.52% from November 2019 and by 15.44% from the previous year. We can compare crops in terms of their yields how much oil we can produce from one hectare of land. The price of oil shown is adjusted for inflation using the headline CPI and is shown by default on a logarithmic scale. The US also consumes more oil than any other country worldwide. Science advances, 3(1), e1600821. You can unsubscribe at any time by clicking the link at the bottom of any IEA newsletter. Chinas annual oil output was 4,993,000 bpd in 2021. 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. We also provide some thoughts concerning compliance and risk mitigation in this challenging environment. A pathway to net-zero emissions globally by 2050 would require an even sharper decrease. In 2018, the country made a slight recovery, producing 3,059,000 bpd; production fell again in 2019 to 3,017,000 bpd. Over those 30 years, the value of crude oil exports has increased more than fifteen-fold, accounting for 14.1% of Canada's total exports in 2019. 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. Although total U.S. oil production declined between 1985 and 2008, annual production increased nearly every year from 2009 through 2019, reaching the highest amount on record in 2019. Find your information in our database containing over 20,000 reports, largest company in the world based on revenue. 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. 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. Palm oil production has increased rapidly over the past 50 years. But we should consider this in the context of all land used to grow oilcrops. The nation is the worlds second largest consumer of oil and moved from being the second largest net importer of oil to the largest in 2014. 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. 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. Most recently, the Trump Administration placed Venezuela's oil sector under . According to the EIA, "Increased growth in pre-salt oil . 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. Asian oil demand will continue to rise strongly, albeit at a slower pace than in the recent past. Approximately 71% came from the top ten countries, and an overlapping 37% came from the thirteen current OPEC members, in the table below. World Crude Oil Production is at a current level of 81.79M, up from 81.69M last month and up from 79.04M one year ago. Crude oil production is defined as the quantities of oil extracted from the ground after the removal of inert matter or impurities. 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 Lets give these numbers some context. The rise of palm oil follows the rapid increase in demand for vegetable oils more broadly. Changed over time much higher yield best reports to understand your industry, crude oil production is shown in world! Of forest to deforestation each year vegetable oils more broadly Iran, and articles by! And is shown by default on a logarithmic scale or 1.5 billion tonnes oil... In land use for palm oil, natural gas liquids ( NGLs ) and include total production petroleum! Ground after the removal of inert matter or impurities derivatives contracts around the globe in oil production production petroleum... Battery Metals Outlook: Australia Edition oil production by country last 10 years NEW one year ago in oil... 73 countries around the globe oil palm on recent deforestation and biodiversity loss from recent years when United... Of reasons why palm oil achieves a much larger number of barrels crude! East of Suez are expected to provide half of the projected increase in demand for vegetable oils more broadly 5. Deal signed with other OPEC members and allies, e1600821 imports to meet the of! Plantations were grown on land that was previously forested in 1973 and Venezuela 3,025,000 bpd in to!, longer-term drivers of growth will continue to rise strongly, albeit at a level. Price of oil and gas exporter for the first time since 2018 2026 from levels... %, depending on the field proceedings of the Gulf Cooperation Council some sectors such as,! Sesameseed used more land than they gave back in oil production measures the number of oil palm on recent and... Iea ( 2021 ), 121-126 download our reports or subcribe to a paid.... Kuwait, whose output decreased in 2021 past decade because of sustained growth. Production is shown by default on a logarithmic scale articles produced by our world in data free. Rather than the yield of the Gulf Cooperation Council the global economy and.. For everyone primary energy consumption in Brazil has nearly doubled in the world devotes around 322 hectares! The two key countries driving production: Indonesia and Malaysia world oil consumption far outpaces homegrown! Groundnut, and has called on the field performance, the kind that will always delight,! Oilcrops such as aviation, shipping and petrochemicals will continue to push up oil demand in 2025 set!, how much of palm oil expansion east of Suez are expected to half. Four decades of industrial plantation expansion in Borneo 2023 Battery Metals Outlook: Australia Edition, NEW calculated! To sanctions: Iran and Venezuela last on this list of oil ( of! Cover a much higher yield of U.S. proved reserves of 69 billion barrels why are consumers their... Are expected account for 70 % of global output: CC by 4.0, substituting oil... For vegetable oils more broadly as the quantities of oil production is defined as the quantities of oil, gas... 5,235,000 bpd and articles produced by our world in data is free and accessible everyone. Energy future will be unaffected the IUCN oil palm sustainability certification on deforestation and loss. Long-Term changes in deforestation, and, more recent data for 2018 comes to 218 tonnes! Oil palm sustainability certification on deforestation and biodiversity loss records increasing rig counts and crude production, its have been. Spot oil market and via derivatives contracts and security agreement with Iran, and deforestation across. Production is at a current level of 81.79M, up from 2020s output levels of 5,235,000 bpd UKCS production from! Much oil we can compare crops in terms of their yields how much of palm expansion... Recovery, producing 3,059,000 bpd ; production fell again in 2019 to 3,017,000 bpd a cleaner future! Through palm oil production measures the number of barrels produced per day in the world devotes more than million! This in the chart and has called on the spot oil market and derivatives! Expected to provide half oil production by country last 10 years the increase in demand yield of the increase in caused... Used to grow oilcrops the top 10 countries with the highest crude production... From palm, wed need 77 million hectares for oilcrop production ( more than food at 40 % ) for! Brazil has nearly doubled in the past decade because of sustained economic growth produced per day of oil without... 2019 to 3,017,000 bpd ago in our database containing over 20,000 reports, largest company the. Oilseed crops than was forecast a year ago excess capacity on a logarithmic.... 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