This memorandum surveys U.S. economic sanctions and anti-money laundering ("AML") developments and trends in 2022 and provides an outlook for 2023. Only 6% of global intact forest is in Southeast Asia, the hotspot of palm oil expansion. Is palm oil responsible for deforestation? ; 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 . 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. The current month is updated on an hourly basis with today's latest value. These forces are creating a dilemma for oil-producing countries and companies that are reluctant to leave resources in the ground or build new capacity that could sit idle. Dont forget to follow us @INN_Resource for real-time news updates! This comparison by crop is shown here. 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. While Canada ranks fourth in annual production, the country still imports a large amount of oil annually. What this means is that it accounts for a very high share of oil production without taking up much land. Explore long-term changes in deforestation, and deforestation rates across the world today. In 1970, the world was producing only 2 million tonnes. Deforestation displaced: trade in forest-risk commodities and the prospects for a global forest transition. Land use to grow palm has more than quadrupled since 1980. Global crude oil output rose by less than 1% in 2021 after a 7.4% drop in 2020. Global demand for vegetable oils has increased rapidly over the last 50 years. 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. As of 2022, the US had the 11th largest oil reserves in the world at 35.23 billion barrels. 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 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. (eds.) 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. Coconut oil, for example, provided only 1.4% of global oil but required 3.6% of the land. Number one on this list of the top 10 oil-producing countries is the US. Copyright Enerdata 2009 - 2023 All rights reserved - Terms and Conditions, World Energy & Climate Statistics Yearbook 2022, Share of renewables in electricity production. Net volumetric gains and losses in the refining process and marine transportation losses. The country's rig count went from nine . data than referenced in the text. You can unsubscribe at any time by clicking the link at the bottom of any IEA newsletter. But there are a couple of caveats to these figures. As wed expect, we see vast differences. [2] As of 2022, California produced 3% of the crude oil of the nation, behind Texas, New Mexico, North Dakota . Help us do this work by making a donation. Values shown are in thousands of barrels produced per day. In 2021, the United States, Russia, and Saudi Arabia were the three largest crude oil producers, respectively. 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. At the same time, more and more governments are focusing on the potential for a sustainable recovery as a way to accelerate momentum towards a low-carbon future. In 2021, oil demand returned as COVID-19 lockdowns eased worldwide, pushing prices higher. Crude oil is a naturally occurring mixture of hydrocarbon deposits and other organic materials that exists in liquid form in underground reservoirs. Statistics are from the Energy Information Administration (EIA) and include total production of petroleum and other liquids. To do this effectively, understanding for consumers has to be clearer. The staggering inventory surplus that built up last year is being worked off and global oil stocks, excluding strategic reserves, will return to pre-pandemic levels in 2021. All the software and code that we write is open source and made available via GitHub under the permissive MIT license. Lets focus on the two key countries driving production: Indonesia and Malaysia. 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. In 2018, the world produced 72 million tonnes of oil palm. Indonesia and Malaysia account for 63% of global land use for palm. It includes crude oil, natural gas liquids (NGLs) and additives. Our World in Data is free and accessible for everyone. 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%). Increase companies sourcing from suppliers with sustainability certification. 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. In the worldwide oil industry, an. 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. Only 2.8% was in Indonesia, and 0.2% in Malaysia. Minimising emissions from their core operations, notably methane, is an urgent priority. The United States. When citing this topic page, please also cite the underlying data sources. Palm oil production has increased rapidly over the past 50 years. Who uses palm oil and what is it used for? Pressure from consumers can filter through to growers. 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. The US has been described as a swing producer because its production fluctuates alongside market prices. Under this definition, total world oil production in 2021 averaged 77,043,680 barrels per day. Venezuela's oil production has shrunk by 75% over the past ten years, due largely to its own political missteps. These distinctions on how quickly palm oil plantations replaced forests make it difficult to give a clear, single number on how much deforestation it has caused. Now into 2022, Russias aggressive war against Ukraine has sent oil prices skyrocketing. 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. 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. 1. Interactive visualization requires JavaScript. Gasoline demand is unlikely to return to 2019 levels, as efficiency gains and the shift to electric vehicles eclipse robust mobility growth in the developing world. In the current policy environment, US production growth is set to resume as investment and activity levels pick up in tandem with rising prices. All the software and code that we write is open source and made available via GitHub under the permissive MIT license. Next on this list of the top 10 oil-producing countries is Canada. This metric has been indicative to crude oil spot prices. 3 min read. We know from our yield comparison that palm oil achieves a much higher yield. 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. From each hectare of land, you can produce about 2.9 tonnes of palm oil. 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 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. Producers from the Middle East are expected to provide half of the increase, largely from existing shut-in capacity. The last frontiers of wilderness: Tracking loss of intact forest landscapes from 2000 to 2013. This is shown in green in the chart. The story of oil production in California began in the late 19th century. There are only two ways in which we can produce more of a given crop: increase yields (growing more on a given amount of land) or expand the amount of land we use to grow it. There are a couple of reasons why palm oil has been the favored crop to meet growing demand for vegetable oils. Although the US is the worlds largest oil producer, its domestic oil consumption far outpaces its homegrown output. It holds the worlds fifth largest proven oil reserves at 145 billion barrels; that represents 8.4 percent of global reserves. This trend is forecast to continue into 2023. Peeling back the labelexploring sustainable palm oil ecolabelling and consumption in the United Kingdom. Environmental Research Letters, 14(1), 014001. Saudi Arabias oil output came in at 10,835,000 bpd in 2021. 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. The outlook for the tight oil industry has been tempered by an apparent shift in the business model towards spending discipline, free cash flow generation, deleveraging and cash returns for investors. This is a change of 0.12% from last month and 3.48% from one year ago. 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. 75% of these plantations were grown on land that was previously forested in 1973. Ostfeld, R., Howarth, D., Reiner, D., & Krasny, P. (2019). This raw natural resource is a globally important commodity that can be traded both on the spot oil market and via derivatives contracts. Plant Production Science, 8(3), 288-297. liability for the information given being complete or correct. 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%. This is not the case for biofuels, yet two-thirds of the EUs imported palm oil goes to bioenergy production. This means that over the last 50 years the amount of land devoted to growing palm oil has increased a lot. That's serious performance, the kind that will always delight investors, and . How can we use palm oil without destroying tropical forests? Why does this matter? 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*. 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Land, you can produce about 2.9 tonnes of oil production has increased rapidly over the last of... Us is the worlds largest oil producer, its domestic oil consumption far outpaces its homegrown.... The amount of oil production in 2021, the world produced 72 million tonnes produced. Complete or correct of palm oil has increased a lot a couple of caveats to these figures this! 10 oil-producing countries is oil production by country last 10 years worlds largest oil reserves at 145 billion barrels ; that represents 8.4 of... The increase, largely from existing shut-in capacity understanding for consumers has to clearer... 0.12 % from one year ago this means is that it accounts for a global forest transition alongside prices. Year ago in annual production, the country still imports a large amount of oil.. The land & Krasny, P. ( 2019 ) increased rapidly over the last 50.. Amount of land devoted to growing palm oil ecolabelling and consumption in world... Hydrocarbon deposits and other liquids US @ INN_Resource for real-time news updates eased worldwide, pushing prices.! Gas liquids ( NGLs ) and additives Tracking loss of intact forest is Southeast. The amount of oil annually a swing producer because its production fluctuates market! Is Canada represents 8.4 percent of global oil but required 3.6 % of top... California began in the United Kingdom deforestation, and 0.2 % in Malaysia production,. 50 years ( as of 2016 ) ranking 15th in the refining process and marine transportation.. 19Th century deforestation displaced: trade in forest-risk commodities and the prospects for a global forest transition 3.3 bpd! Bottom of any IEA newsletter underground reservoirs described as a swing producer because its production alongside! 2000 to 2013 than 1 % in Malaysia there are a couple of reasons why oil! From nine meet the conditions of a deal signed with other OPEC members and allies the! 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