Environmental Research Letters, 14(1), 014001. In 2021, oil demand returned as COVID-19 lockdowns eased worldwide, pushing prices higher. 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. In the chart we see the breakdown of global vegetable oil production in 2018. 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. [2] Saudi Arabia and Russia also top the list of oil exporting countries. This is a change of 6.02% from one year ago. World crude oil price vs. oil consumption. This indicator is measured in thousand tonne of oil equivalent (toe).Crude oil is a mineral oil . In the map we see the distribution of production across the world. And why has the country seen its oil production plummet by more than 75% over the past decade? 1. In the chart we see the production of the palm oil plant across a number of countries. Why does this matter? It has therefore been a natural choice to meet this demand. history. 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. 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Last on this list of the top 10 oil-producing countries is Kuwait, whose output decreased in 2021 for the third time since 2018. If we want to reduce agricultural expansion, we want to maximise crop yields through effective management practices, improved varieties and choosing the most productive areas of land. Minimising emissions from their core operations, notably methane, is an urgent priority. The top five are Canada, Mexico, Russia, Saudi Arabia and Colombia. By Robert Rapier - Feb 25, 2023, 10:00 AM CST. *Billed as $19.00 plus GST . 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. Article by Melissa Pistilli; FAQs by Melissa Pistilli and Georgia Williams. The industry paid 12.9 billion [21] in corporate taxes in 2008-9, the largest since the mid-1980s, because of high oil and gas prices. Some studies suggest that palm oil has played a very small role in global forest loss. Scientific reports, 6(1), 1-13. In 2021, the US crude oil production (17% of global output) increased by 1.3%. We can compare crops in terms of their yields how much oil we can produce from one hectare of land. 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. 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. Compared with shorter-term data, the full-year figures are less prone to distortion from periodic maintenance shutdowns and other seasonal cycles. Canada has been embroiled in a national debate over pipelines. We know that tropical forests are incredibly rich in biodiversity, and store a lot of carbon from the atmosphere. Although the US is the worlds largest oil producer, its domestic oil consumption far outpaces its homegrown output. 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. To have a real, permanent impact, certification needs to cover a much larger number of growers. The US also consumes more oil than any other country worldwide. A situation analysis by the IUCN Oil Palm Task Force. United Arab . Now into 2022, Russias aggressive war against Ukraine has sent oil prices skyrocketing. The current price of WTI crude oil as of February 28, 2023 is $77.09 per barrel. Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article. Its oil and gas sector accounts for around 50 percent of its gross domestic product and about 85 percent of its export earnings. Nigeria produces every year an . If we werent meeting global oil demand through palm oil, another oilcrop would have to take its place. Most recently, the Trump Administration placed Venezuela's oil sector under . Small amounts of palm oil are grown in many countries, but the global market is dominated by only two: Indonesia and Malaysia. Palm oil production has grown to meet rising demands for vegetable oils. A pathway to net-zero emissions globally by 2050 would require an even sharper decrease. This is based on reported figures as of November 2020. If we want to limit our environmental impact, reducing the amount of land we devote to agriculture is key. 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]. 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. OPEC countries, including Saudi Arabia, made up the largest share of production at 35% or 1.5 billion tonnes of oil. But there are a couple of caveats to these figures. Top of Page Print Page 2023 Organization of the Petroleum Exporting Countries Sitemap Data Policy Disclaimer Terms and Conditions 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%). Here I have calculated the actual yield of oil from each crop, rather than the yield of the total crop. 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). 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. 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. Only 19% of palm oil production is covered by the RSPO.17 Research into the impact of the RSPO found that it was successful in reducing deforestation.18 However, it found that this most avoided deforestation from older plantations, which is not where most tropical forests remain. And is this reputation justified? Although production is focused in only a few countries across the tropical belt, we see that palm oil is an important product across the world. Last year, the US consumed a total of 7.22 billion barrels of petroleum products thats an average of about 19.78 million bpd. Venezuela was way down the list, at #25 with 605,000 BPD. 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 There are now long lists of companies that have done so [Google palm-oil free and you will find an endless supply]. Leading oil-consuming countries worldwide in 2021 (in 1,000 barrels per day) Leading oil demanding sectors in the OECD 2020 Leading oil demanding sectors in the OECD 2020 Distribution of. 1 min read. Whatever the transition pathway, the oil and gas industry has an important role to play, and no energy company will be unaffected. Help us do this work by making a donation. Plant Production Science, 8(3), 288-297. Palm oil markets and future supply. Ethane, LPG and naphtha together account for 70% of the projected increase in oil product demand to 2026. If global oil was supplied solely from palm, wed need 77 million hectares, around four times less. Read on for a look at the top 10 oil-producing countries in 2021. In the absence of more rapid policy intervention and behavioural changes, longer-term drivers of growth will continue to push up oil demand. 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. Brazils oil production fell slightly from 3,769,000 bpd in 2020 to 3,689,000 bpd in 2021. (2016). 2023 Pharmaceuticals Outlook Report. Investing News Network websites or approved third-party tools use cookies. Nigeria's oil production crashes to 900,000b/d. With a rough estimate of 11,567,000 barrels per day, the United States is the top oil-producing country in the world, as it has been for many years. 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. 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 . The Oil 2021 dataset includes 2019 data and forecasts through 2026 for world oil supply and demand by region, global oil demand by region and for major economies, world oil production (OPEC data through 2020 only), world refinery capacity additions, world Oil 2021 The data behind the Oil 2021 report with forecasts to 2026 Data set The United Arab Emirates accounts for 5.6 percent of global total reserves. 3. 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. Equals the arithmetic difference between total demand minus total nonOPEC supply minus OPEC NGLs. Together, these three countries combine for 39.1% of global oil production, and about 24.9% of the world's proven oil reserves. It holds the worlds fifth largest proven oil reserves at 145 billion barrels; that represents 8.4 percent of global reserves. Rapid conversions and avoided deforestation: examining four decades of industrial plantation expansion in Borneo. The country's rig count went from nine . 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. Licenses: All visualizations, data, and articles produced by Our World in Data are open access under the Creative Commons BY license. 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. Oil palm is a tropical plant species. OPEC was created at the Baghdad Conference in 1960, with founding members Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. Thank you for subscribing. 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. 2023 Gold Outlook: Australia Edition. 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. 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. Licence: CC BY 4.0, Keep up to date with our latest news and analysis by subscribing to our regular newsletter. World Oil Consumption is at a current level of 94.09M, up from 88.75M one year ago. Intact forests are a specific subset of primary forests which are very rich sites of biodiversity, and are largely undisturbed by human activity. A much stronger pivot towards a cleaner energy future will be required to reach ambitious mid-century goals for net-zero emissions. Pendrill, F., Persson, U. M., Godar, J., & Kastner, T. (2019). In 2017 it produced 36% of our vegetable oil, but took up only 8.6% of the land. Licenses: All visualizations, data, and articles produced by Our World in Data are open access under the Creative Commons BY license. US sanctions and regional disputes have all weighed on Irans energy production sector. While Canada ranks fourth in annual production, the country still imports a large amount of oil annually. In the current policy environment, US production growth is set to resume as investment and activity levels pick up in tandem with rising prices. Other producers include Thailand, Colombia, Nigeria, Guatemala, and Ecuador. Interactive visualization requires JavaScript. As we discuss in our related article on this, deforestation accounts for just one-quarter of global tree loss. In recent history, the top three producers have been the United States, Russia, and Saudi Arabia. Palm oil production has increased rapidly over the past 50 years. 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. Deforestation displaced: trade in forest-risk commodities and the prospects for a global forest transition. Stats Related Indicators World Energy 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. It achieves a much higher yield than the alternatives. The global market still looks adequately supplied through much of the medium term. 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? The top 10 countries with the highest crude oil production. Venezuela's illegal . In addition to being the world's largest oil producer, the United States also imports upwards of 8 million barrels . The country holds the worlds eighth largest proven oil reserves at 98 billion barrels, with most of those reserves located in Abu Dhabi. World's Top 10 Oil Producing Countries, 1965-2018 Thousands of barrels per day Replay 1965 US 9014.148 USSR 4857.76 Venezuela 3503 Kuwait 2371 Saudi Arabia 2219.3 Iran 1908 Iraq 1313 Libya. Only 2.8% was in Indonesia, and 0.2% in Malaysia. 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. Global crude oil output rose by less than 1% in 2021 after a 7.4% drop in 2020. Environmental Research Letters, 14(5), 055003. The central theme of 2022 was the U.S. government's deploying of its sanctions, AML . This trend is forecast to continue into 2023. 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. 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. World Crude Oil Production is at a current level of 81.65M, up from 81.34M last month and up from 77.72M one year ago. xiii + 116pp. To meet its own oil demand, the US must rely on oil imports from countries. Oil statistics Data on UK production, trade and demand of oil by sector, including crude oil and natural gas liquids, and products including transport fuels. Lets take a look at how this comparison affects the global landscape of oilcrops in terms of production and land use. Thank you for subscribing. This is a change of 0.12% from last month and 3.48% from one year ago. The Covid-induced demand shock and a shifting momentum towards investment in clean energy are set to slow the expansion of the worlds oil production capacity over our six-year forecast period. It thrives on high rainfall, adequate sunlight and humid conditions this means the best growing areas are along a narrow band around the equator.4 Palm oil is therefore grown in many countries across Africa, South America, and Southeast Asia. [2] As of 2022, California produced 3% of the crude oil of the nation, behind Texas, New Mexico, North Dakota . Measured as deliveries from refineries and primary stocks, comprises inland deliveries, international marine bunkers, refinery fuel, crude for direct burning, oil from non-conventional sources and other sources of supply. Explore long-term changes in deforestation, and deforestation rates across the world today. From: Department for Business,. By continuing to browse the site, you agree to our use of cookies. Output in 2018 helped the Middle Eastern nation regain its sixth spot position. Secondly, the 0.2% figure is based on intact forest loss. No crop is 100% oil-based, and therefore this will differ from the mass of the crop itself. Increased crop yields. 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. When will countries phase out coal power? The EU after China and India is the third largest importer of palm oil. As of 2022, the US had the 11th largest oil reserves in the world at 35.23 billion barrels. According to the IEA, the nation sources oil form as many as 73 countries around the globe. Effect of oil palm sustainability certification on deforestation and fire in Indonesia. [4] In May 2019 the country became a net oil and gas exporter for the first time since 1953. Brazil - 2,515,459bbl/day Brazil is the largest producer of oil in South America, with a production rate of over 2.5mbbl/day. Its of course true that some crops provide co-products in the process. Despite its abundant reserves, Irans oil production has substantially fallen in recent years it produced 4,779,000 bpd back in 2017. The industry group says that's 11 per . As the country records increasing rig counts and crude production, its . What is it used for? Its output increased by 266,000 bpd from its 2020 level to reach 18,875,000 bpd last year. READ: 10 African countries with the highest petrol prices as of March 2022 That said, below are the ten African countries that produced the most crude oil in 2021. 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. 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. Operations east of Suez are expected account for all the growth in refining activity to 2026 from 2019 levels. Meijaard, E., Garcia-Ulloa, J., Sheil, D., Wich, S.A., Carlson, K.M., Juffe-Bignoli, D., and Brooks, T.M. Ultimately this is what matters if our question is how to meet global oil demand.I have calculated oil yield for each crop by dividing the actual oil production by the area harvested for each. In March 2022, the US government announced a ban on imports of oil, liquefied natural gas and coal from Russia in response to the invasion of Ukraine. Thats an area similar to the size of India. 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. European countries should stop using palm oil for biofuels. Approximately 71% came from the top ten countries, and an overlapping 37% came from the thirteen current OPEC members, in the table below. The price of oil shown is adjusted for inflation using the headline CPI and is shown by default on a logarithmic scale. Copyright Enerdata 2009 - 2023 All rights reserved - Terms and Conditions, World Energy & Climate Statistics Yearbook 2022, Share of renewables in electricity production. Lets give these numbers some context. The world devotes more than 300 million hectares for oilcrop production. The rest soybean, olive, coconut, groundnut, and sesameseed used more land than they gave back in oil production. Many believe that boycotting palm oil is how we make a difference. Global production increased ten-fold since the 1960s from 17 to 170 million tonnes in 2014. An effective and orderly transition will be critical not only to reach international climate targets but also to prevent serious supply disruptions and destabilising price volatility along the way. What activities are driving this? In addition to being a major oil producer, the US is a big consumer of oil. 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. Increase companies sourcing from suppliers with sustainability certification. 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. 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. Oil Price and Inflation: Whats the Correlation? 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%. 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. Net volumetric gains and losses in the refining process and marine transportation losses. In 2018, the world produced 72 million tonnes of oil palm. All the software and code that we write is open source and made available via GitHub under the permissive MIT license. 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. Land use to grow palm has more than quadrupled since 1980. Pressure from consumers can filter through to growers. 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. Heres a look at the top 10 oil-producing countries. 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. Further fuel efficiency improvements, increased teleworking and reduced business travel, much stronger electric vehicle penetration and new policies to curb oil use in the power sector and more recycling will all be needed. How has land use for palm oil changed over time? The world consumes 35,442,913,090 barrels of oil as of the year 2016, equivalent to 97,103,871 barrels per day. In an oversupplied market suffering from a lack of demand, oil prices turned negative, shocking market participants. Need more data? 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. In 2017, despite increasing its output, Iraq got bumped from its position as the sixth largest oil-producing country. The IUCN (International Union for Conservation of Nature) Oil Palm Task Force conducted an in-depth review of the literature to understand the impact of palm oil on deforestation.5 There was a lot of variability in the results, depending on how a forest was defined, the geographic focus of the analysis, and timeframe that was considered. [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. As we will see later in this article, more recent data for 2018 comes to 218 million tonnes. See the distribution of global forests and which countries have the most forest cover. The rise of palm oil follows the rapid increase in demand for vegetable oils more broadly. Peeling back the labelexploring sustainable palm oil ecolabelling and consumption in the United Kingdom. (eds.) Global oil consumption per capita is 5 barrels of oil (199 gallons) per person yearly (based on the 2016 world population of 7,464,022,049 people) or 0.5 gallons per capita per day. 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. Show Recessions 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. Please consult our full legal disclaimer. [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. On the left we have each crops share of global land use for vegetable oils; on the right we have its share of production. Ocado, an online UK retailer is just one example. Oil production is measured in barrels per day. Only 6% of global intact forest is in Southeast Asia, the hotspot of palm oil expansion.