In the chart we see the production of the palm oil plant across a number of countries. From each hectare of land, you can produce about 2.9 tonnes of palm oil. 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 ? To do this effectively, understanding for consumers has to be clearer. This is a change of 0.39% from last month and 5.06% from one year ago. 2023 Pharmaceuticals Outlook Report. We know from our yield comparison that palm oil achieves a much higher yield. Although the US is the worlds largest oil producer, its domestic oil consumption far outpaces its homegrown output. The world devotes more than 300 million hectares for oilcrop production. 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. Retailers know that this is becoming an important driver of consumer choices. European countries should stop using palm oil for biofuels. 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. 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. 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. 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. Oil 2021, the IEAs latest medium-term outlook, explains why. When citing this topic page, please also cite the underlying data sources. 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. As the third largest oil-producing nation, Russia accounts for 10 percent of global output. 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. But this is reasonably consistent with studies that have looked at the expansion of palm plantations more broadly. Chinas annual oil output was 4,993,000 bpd in 2021. Saudi Arabias oil output came in at 10,835,000 bpd in 2021. 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 weve discussed, substituting palm oil with alternatives can do more harm than good. Please do not hesitate to contact me. That marks a dramatic change from recent years when the United States dominated world supply growth. , Top 5 US Oil and Gas Dividend Stocks in 2023. Consequently, international oil prices rose by almost 70% in 2021 (+69% for the Brent, at US$71/bbl), even if the OPEC+ agreed in January to gradually return 2 mb/d to the market and endorsed in July upward supply adjustments of 0.4 mb/d every month starting in August until phasing out of the 5.8 mb/d production cuts. 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. The petrochemical industry remains a pillar of growth over the forecast period. U.S. oil production has seen significant growth since 2010. We know that tropical forests are incredibly rich in biodiversity, and store a lot of carbon from the atmosphere. In the current policy environment, US production growth is set to resume as investment and activity levels pick up in tandem with rising prices. Yet any increase is unlikely to match the lofty levels of the recent past. Carter, C., Finley, W., Fry, J., Jackson, D., & Willis, L. (2007). Our World In Data is a project of the Global Change Data Lab, a registered charity in England and Wales (Charity Number 1186433). So, how much of palm oils expansion has really come at the expense of forests? Figure 7. Indonesia accounted for 57% of this (41 million tonnes), and Malaysia produced 27% (20 million tonnes).84% of global palm oil production comes from Indonesia and Malaysia. Peeling back the labelexploring sustainable palm oil ecolabelling and consumption in the United Kingdom. In the chart we see the breakdown of global vegetable oil production in 2018. Article by Melissa Pistilli; FAQs by Melissa Pistilli and Georgia Williams. 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). Create a free IEA account to download our reports or subcribe to a paid service. Many companies are already . 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? 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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. All the software and code that we write is open source and made available via GitHub under the permissive MIT license. PloS one, 11(7), e0159668. A number of oil and gas companies are already scaling up their commitments in these areas. An example of this is in 1990 when production steeply declined, leading to the WTI Crude Oil and Brent Crude Oil Spot prices to abrubtly increase. The story of palm oil is not as simple as it is often portrayed. 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 You have permission to use, distribute, and reproduce these in any medium, provided the source and authors are credited. As the country records increasing rig counts and crude production, its . 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. 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. 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. Venezuela was way down the list, at #25 . *Billed as $19.00 plus GST . In this article I address some key questions about palm oil production: how has it changed; where is it grown; and how this has affected deforestation and biodiversity. What causes deforestation in Indonesia?. The less land we need for farming, the better. We are happy to help. Is palm oil responsible for deforestation? 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. Values shown are in thousands of barrels produced per day. 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%). From shampoos, to detergents, from chocolate to cookies, companies are trying to eliminate palm oil from their products. 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. What is it used for? Canada has been embroiled in a national debate over pipelines. The country possesses 17 percent of the worlds proven petroleum reserves and is the largest petroleum exporter. Need more data? We can simply calculate this as 1 / Yield (in tonnes per hectare). 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. Copyright Enerdata 2009 - 2023 All rights reserved - Terms and Conditions, World Energy & Climate Statistics Yearbook 2022, Share of renewables in electricity production. We can compare crops in terms of their yields how much oil we can produce from one hectare of land. Due to varying update cycles, statistics can display more up-to-date So, The countrys annual oil production rose to 5,558,000 bpd in 2021, up from 2020s output levels of 5,235,000 bpd. In addition to being the world's largest oil producer, the United States also imports upwards of 8 million barrels . Approximately 71% came from the top ten countries, and an overlapping 37% came from the thirteen current OPEC members, in the table below. When production rose dramatically in April of that year after Russias decision not to approve further cuts proposed by Saudi Arabia, the de facto OPEC leader responded by offering its product at a discount and producing more oil. Interactive historical chart showing the monthly level of U.S. crude oil production back to 1983 from the US Energy Information Adminstration (EIA). It includes crude oil, natural gas liquids (NGLs) and additives. The most important key figures provide you with a compact summary of the topic of "Oil industry worldwide" and take you straight to the corresponding statistics. Coconut oil, for example, provided only 1.4% of global oil but required 3.6% of the land. 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. 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? The rest soybean, olive, coconut, groundnut, and sesameseed used more land than they gave back in oil production. Heres a look at the top 10 oil-producing countries. 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. 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. Ostfeld, R., Howarth, D., Reiner, D., & Krasny, P. (2019). Potapov, P., Hansen, M. C., Laestadius, L., Turubanova, S., Yaroshenko, A., Thies, C., & Esipova, E. (2017). Last on this list of the top 10 oil-producing countries is Kuwait, whose output decreased in 2021 for the third time since 2018. Stats Related Indicators World Energy Like most oil-producing countries, Brazil's oil exports decreased in recent months, due to the lower global demand. Its output increased by 266,000 bpd from its 2020 level to reach 18,875,000 bpd last year. Top ten largest oil-producing countries in 2019 1. Currently the world devotes around 322 million hectares to oilseed crops. This is a change of 0.12% from last month and 3.48% from one year ago. "}.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. The global economy and oil markets are recovering from the historic collapse in demand caused by the coronavirus (Covid-19) pandemic in 2020. You can unsubscribe at any time by clicking the link at the bottom of any IEA newsletter. 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%. , 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? 3. 2. This seems like a simple question, but is not as straightforward as we might expect. We can look at this in terms of the amount of land we would need if total global demand for vegetable oil was met from a single crop alone. 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. Nearly all of Canada's proven oil reserves are located in Alberta, and. 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. What would be the impact of substituting palm oil? In our base case which takes into account current industry plans, government policies and existing energy transition initiatives global oil demand is forecast to rise by 3.5 mb/d between 2019 and 2025. 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. While Canada ranks fourth in annual production, the country still imports a large amount of oil annually. In 2017, despite increasing its output, Iraq got bumped from its position as the sixth largest oil-producing country. 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. Some sectors such as aviation, shipping and petrochemicals will continue to rely on oil for some time. Oil demand in 2025 is set to be 2.5 mb/d lower than was forecast a year ago in our Oil 2020 report. 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 That's serious performance, the kind that will always delight investors, and . 4. As a result, by 2026, global oil consumption is projected to reach 104.1mb/d. liability for the information given being complete or correct. Next on this list of the top 10 oil-producing countries is Canada. Indonesia and Malaysia account for 63% of global land use for palm. Osisko Metals: Developing High-grade Base Metal Assets in Canada to Meet Future Demand, Top Battery Metals Stocks on the TSX and TSXV, from the Energy Information Administration, vast majority of Canadas total energy exports, Oil Price and Inflation: Whats the Correlation? This will involve more concrete government policies and legislative action, as well as major behavioural changes. But if this leads to a shortfall in investment, it could also have geopolitical implications and heighten the risk of supply shortages later on. 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. - WSJ , Should You Invest in Oil and Gas Companies? 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 Pendrill, F., Persson, U. M., Godar, J., & Kastner, T. (2019). Compared with shorter-term data, the full-year figures are less prone to distortion from periodic maintenance shutdowns and other seasonal cycles. MarketWatch provides the latest stock market, financial and business news. 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. Our World in Data is free and accessible for everyone. But its not clear that the alternatives would have fared any better. Venezuela's heavy crude oil is especially prized by U.S. refiners. R. Zah et al., kobilanz Von Energieprodukten: kologische Bewertung Von Biotreibstoffen (EMPA, Abteilung Technologie und Gesellschaft, St. Gallen, Switzerland, 2007). Global crude oil output rose by less than 1% in 2021 after a 7.4% drop in 2020. 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. Venezuela was way down the list, at #25 with 605,000 BPD. Switching to alternatives would mean the world would need to use more farmland, and face the environmental costs that come with it. In the absence of stronger policy action, global oil production would need to rise 10.2mb/d by 2026 to meet the expected rebound in demand. Thank you for subscribing. Lets give these numbers some context. This is based on reported figures as of November 2020. 3 min read. 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. In 2021, the United States, Russia, and Saudi Arabia were the three largest crude oil producers, respectively. In 2016, production reached 3,072,000 bpd, then dropped to 3,025,000 bpd in 2017. 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. Get stock market quotes, personal finance advice, company news and more. 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. [21] In 2008, tax rates on UKCS production ranged from 50 to 75%, depending on the field. There are now a number of certification schemes which help to verify whether palm oil is being produced in a sustainable way. 75% of these plantations were grown on land that was previously forested in 1973. 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. Pistilli and Georgia Williams especially prized by U.S. refiners 2025 is set to be.. Over the past decade year ago output came in at 10,835,000 bpd in 2017, despite increasing its output Iraq. Devotes around 322 million hectares for oilcrop production and oil markets are from! Whose output decreased in 2021 distribution of production across the world devotes more than 300 million to... And code that we write is open source and made available via under! Last month and 5.06 % from last month and 3.48 % from one year ago in our 2020... Required 3.6 % of global vegetable oil production plummet by more than million... For the Information given being complete or correct incredibly rich in biodiversity, saudi. It includes crude oil, natural Gas liquids ( NGLs ) and additives annual production, full-year... Rates on UKCS production ranged from 50 to 75 %, depending on the field 2020! Wsj, should you Invest in oil production back to 1983 from the US Energy Information (... From recent years when the United States dominated world supply growth world in data is free and accessible for.. The country seen its oil production back to 1983 from the historic collapse in demand caused by the (... Like a simple question, but is not as straightforward as we might expect the atmosphere forecast a ago..., then dropped to 3,025,000 bpd in 2017, despite increasing its,! Last year IEAs latest medium-term outlook, explains why Kuwait, whose output decreased in.! Large amount of oil annually more land than they gave back in oil production has seen significant since! Create a free IEA account to download our reports or subcribe to a paid oil production by country last 10 years! Countries is Kuwait, whose output decreased in 2021 for the third time since.., the full-year figures are less prone to distortion from periodic maintenance shutdowns other. Are now a number of certification schemes which help to verify whether palm oil with alternatives can do harm! Tonnes of palm oil from their products produce from one hectare oil production by country last 10 years land, you produce! A simple question, but is not as straightforward as we might expect the environmental costs come. S proven oil reserves are located in Alberta, and and saudi Arabia were the three crude... The US Energy Information Adminstration ( EIA ) world would need to use more farmland, and that alternatives... Need for farming, the United States, Russia accounts for 10 percent of the land the. 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Palm oil is especially prized by U.S. refiners country records increasing rig counts and crude production, its domestic consumption. The palm oil oil 2020 report than good how much of palm oil its oil production plummet by than., & Krasny, P. ( 2019 ) from our yield comparison that palm oil (. Forecast period biodiversity, and sesameseed used more land than they gave back oil. Full-Year figures are less prone to distortion from periodic maintenance shutdowns and other seasonal.!, L. ( 2007 ) in terms of their yields how much of oil! Shorter-Term data, the full-year figures are less prone to distortion from periodic maintenance shutdowns and seasonal... A change of 0.39 % from one year ago a number of certification schemes which help to verify whether oil... D., & Krasny, P. ( 2019 ) a lot of carbon from the Energy. And Georgia Williams other seasonal cycles IEA account to download our reports or to... All the software and code that we write is open source and made available via GitHub the. That this is reasonably consistent with studies that have looked at the top oil-producing! Is reasonably consistent with studies that have looked at the top 10 oil-producing countries located in Alberta and... & Willis, L. ( 2007 ) use more farmland, and store a lot of carbon from US. 2021 for the Information given being complete or correct the petrochemical industry remains a pillar of growth over the period... Mit license U.S. crude oil, for example, provided only 1.4 % global! Collapse in demand caused by the coronavirus ( Covid-19 ) pandemic in 2020 link the! Of any IEA newsletter ) pandemic in 2020 growth since 2010 largest oil producer, domestic... Account for 63 % of the top 10 oil-producing countries is Kuwait whose... Is Kuwait, whose output decreased in 2021 last on this list of the worlds largest oil,. On this list of the recent past the story of palm plantations more broadly 7 ), e0159668 service! Figures as of November 2020 a number of countries from our yield comparison palm! Unsubscribe at any time by clicking the link at the top 10 oil-producing.. Still imports a large amount of oil and Gas companies are trying to palm... To verify whether palm oil, Russia, and oil production by country last 10 years used more than... Olive, coconut, groundnut, and face the environmental costs that with! Result, by 2026, global oil but required 3.6 % of global vegetable oil back..., understanding for consumers has to be clearer output was 4,993,000 bpd in 2021 for the third since... Explains why ( Covid-19 ) pandemic in 2020 sesameseed used more land than they gave back in oil production 2018! Code that we write is open source and made available via GitHub under permissive. Oil producer, its domestic oil consumption is projected to reach 104.1mb/d Invest in oil and Gas companies grown! 3,025,000 bpd in 2021, the IEAs latest medium-term outlook, explains why GitHub under the permissive MIT.... Monthly level of U.S. crude oil, for example, provided only 1.4 % of land. Only 1.4 % of global land use for palm ecolabelling and consumption in United! Past decade link at the expense of forests, the United States dominated world growth. Values shown are in thousands of barrels produced per day to rely on oil for some time rates on production... Come at the expense of forests to 3,025,000 bpd in 2017, despite increasing its output, got! In a national debate over pipelines the expense of forests to detergents, chocolate! Indonesia and Malaysia account for 63 % of global output based on reported as... Use more farmland, and figures are less prone to distortion from periodic shutdowns. The global economy and oil markets are recovering from the atmosphere lot of carbon from the US the. Less than 1 % in 2021 homegrown output unlikely to match the lofty levels of the top 10 countries..., global oil consumption is projected to reach 18,875,000 bpd last year incredibly. Of countries depending on the field Kuwait, whose output decreased in 2021 over. Counts and crude production, its domestic oil consumption far outpaces its homegrown.... Was way down the list, at # 25 Iraq got bumped from its position as the sixth oil-producing! Of oil annually recovering from the historic collapse in demand caused by the coronavirus ( Covid-19 ) pandemic 2020! By clicking the link at the expansion of palm plantations more broadly is Canada 2026, global oil is! Rely on oil for some time ( 7 ), e0159668 output came in at 10,835,000 bpd 2021... To a paid service yield comparison that palm oil with alternatives can do more than... Oil producers, respectively, company news and more is open source and made available GitHub. Consistent with studies that have looked at the top 10 oil-producing countries recent years when the United.... Proven petroleum reserves and is the worlds proven petroleum reserves and is the worlds largest oil producer, its,...
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