Statista assumes no 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. [4] In May 2019 the country became a net oil and gas exporter for the first time since 1953. The United Arab Emirates accounts for 5.6 percent of global total reserves. A global boycott on palm oil would not fix the problem: it would simply shift it elsewhere, and at a greater scale because the world would need more land to meet demand. 3. Led by Saudi Arabia, it controls production, supply and pricing in the global petroleum market. The global market still looks adequately supplied through much of the medium term. As the country records increasing rig counts and crude production, its . Lets give these numbers some context. This is shown in green in the chart. Heres a look at the top 10 oil-producing countries. In February 2020, a new cost estimate for the project sent the C$7.4 billion figure to C$12.6 billion; that figure was adjusted again in February 2022, nearly doubling to C$21.4 billion. In an oversupplied market suffering from a lack of demand, oil prices turned negative, shocking market participants. US sanctions and regional disputes have all weighed on Irans energy production sector. If we werent meeting global oil demand through palm oil, another oilcrop would have to take its place. Statistics are from the Energy Information Administration (EIA) and include total production of petroleum and other liquids. The impacts of oil palm on recent deforestation and biodiversity loss. Visit our This means that over the last 50 years the amount of land devoted to growing palm oil has increased a lot. 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. 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. Net volumetric gains and losses in the refining process and marine transportation losses. 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 Production has steadily increased over time, except in the 80s when production was lessened worldwide. As we discuss in our related article on this, deforestation accounts for just one-quarter of global tree loss. [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. Prior to production cuts in 2020, Russian oil output had spent a number of years rising; it hit 10,778,000 bpd last year. No crop is 100% oil-based, and therefore this will differ from the mass of the crop itself. 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. Help us do this work by making a donation. The volumes in the table represent crude oil and lease condensate, the hydrocarbon liquids collected at or near the wellhead. 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. In the absence of more rapid policy intervention and behavioural changes, longer-term drivers of growth will continue to push up oil demand. 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. Why are consumers turning their back on palm oil? Increased crop yields. [2] As of 2022, California produced 3% of the crude oil of the nation, behind Texas, New Mexico, North Dakota . 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. The non-oil fraction of soybeans, for example, can be allocated to other uses such as high-protein animal feed. U.S. oil production has seen significant growth since 2010. , Top 5 US Oil and Gas Dividend Stocks in 2023. As we will see later in this article, more recent data for 2018 comes to 218 million tonnes. This is true for other tropical oilcrops such as coconut, groundnut, or soy. 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. Production edged just above 17 million bpd in 2019, giving the US an 18% share of the entire global output. Asian oil demand will continue to rise strongly, albeit at a slower pace than in the recent past. In 2018, the world produced 72 million tonnes of oil palm. The output control deal made between the Organization of the Petroleum Exporting Countries (OPEC) and 11 of the worlds top oil producers expired in 2020. 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. Values shown are in thousands of barrels produced per day. This text provides general information. Interactive historical chart showing the monthly level of U.S. crude oil production back to 1983 from the US Energy Information Adminstration (EIA). IEA (2021), Oil 2021, IEA, Paris https://www.iea.org/reports/oil-2021, License: CC BY 4.0. 75% of these plantations were grown on land that was previously forested in 1973. All of our charts can be embedded in any site. [2] Saudi Arabia and Russia also top the list of oil exporting countries. And why has the country seen its oil production plummet by more than 75% over the past decade? 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). If global oil was supplied solely from palm, wed need 77 million hectares, around four times less. Need more data? Please consult our full legal disclaimer. In the chart we see the breakdown of global vegetable oil production in 2018. Help us do this work by making a donation. Palm oil accounts for 6% of this land use, which is small when we consider that it produces 36% of the oil. Here I have calculated the actual yield of oil from each crop, rather than the yield of the total crop. Approximately 71% came from the top ten countries, and an overlapping 37% came from the thirteen current OPEC members, in the table below. 2023 Pharmaceuticals Outlook Report. Indonesia accounted for 57% of this (41 million tonnes), and Malaysia produced 27% (20 million tonnes). 3 min read. In 2021, the United States, Russia, and Saudi Arabia were the three largest crude oil producers, respectively. 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 Despite its abundant reserves, Irans oil production has substantially fallen in recent years it produced 4,779,000 bpd back in 2017. , Oil and Gas Price Forecast: Top Trends That Will Affect Oil and Gas in 2023 , Top Oil and Gas Stocks on the TSX and TSXV | INN , Need for investment is critical for oil, gas industry: World Petroleum , Are Oil-and-Gas Companies a Good Investment? So, how much of palm oils expansion has really come at the expense of forests? 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. In the current policy environment, US production growth is set to resume as investment and activity levels pick up in tandem with rising prices. 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. Some studies suggest that palm oil has played a very small role in global forest loss. Why has the market for palm oil and vegetable oils more broadly increased so rapidly? Oil production by region Oil production per capita Oil reserves Per capita CO2 emissions by fuel type Per capita CO2 emissions from coal Per capita CO2 emissions from gas Per capita CO2 emissions from oil Per capita energy consumption from coal Per capita fossil energy consumption vs. GDP per capita Per capita gas consumption 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. Top ten largest oil-producing countries in 2019 1. OPEC countries, including Saudi Arabia, made up the largest share of production at 35% or 1.5 billion tonnes of oil. As weve discussed, substituting palm oil with alternatives can do more harm than good. 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. Switching to alternatives would mean the world would need to use more farmland, and face the environmental costs that come with it. A push towards increased biofuel consumption in the transport sector has been driving this, despite it being worse for the environment than normal diesel (more on this later). Pressure from consumers can filter through to growers. "}.mw-parser-output .srn-white-background{background:#fff}.mw-parser-output .static-row-numbers tr:hover{background:#eaf3ff}, Last edited on 20 February 2023, at 02:21, List of countries by natural gas production, List of countries by natural gas proven reserves, List of countries by natural gas consumption, "Annual petroleum and other liquids production", "OPEC+ not to increase oil production in April", "U.S. Crude oil production grew 11% in 2019, surpassing 12 million barrels per day", The US will be a net energy exporter by 2022, four years sooner than expected, Energy Department says, United Nations Department of Economic and Social Affairs, https://en.wikipedia.org/w/index.php?title=List_of_countries_by_oil_production&oldid=1140438968, This page was last edited on 20 February 2023, at 02:21. Last on this list of the top 10 oil-producing countries is Kuwait, whose output decreased in 2021 for the third time since 2018. Next on this list of the top 10 oil-producing countries is Canada. Being the most productive oilcrop, palm has taken up a lot of this production. 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. 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. Vijay, V., Pimm, S. L., Jenkins, C. N., & Smith, S. J. 19 million hectares might sound like a lot of land. Palm oil production has increased rapidly over the past 50 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. 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