Science advances, 3(1), e1600821. 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. 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. 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. In some cases, especially for European domestic markets, some substitution for rapeseed or sunflower seed oils could have a positive environmental impact even if it required using a bit more land. Investing News Network websites or approved third-party tools use cookies. The volumes in the table represent crude oil and lease condensate, the hydrocarbon liquids collected at or near the wellhead. In 2018, the world produced 72 million tonnes of oil palm. OPEC was created at the Baghdad Conference in 1960, with founding members Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. But would the alternatives have fared any better? Founded in 1960, OPEC, or the Organization of the Petroleum Exporting Countries, is a group of 13 countries headquartered in Vienna, Austria. This means that over the last 50 years the amount of land devoted to growing palm oil has increased a lot. Austin, K. G., Schwantes, A., Gu, Y., & Kasibhatla, P. S. (2019). Values shown are in thousands of barrels produced per day. This is true for other tropical oilcrops such as coconut, groundnut, or soy. Production has steadily increased over time, except in the 80s when production was lessened worldwide. Compared with shorter-term data, the full-year figures are less prone to distortion from periodic maintenance shutdowns and other seasonal cycles. The central theme of 2022 was the U.S. government's deploying of its sanctions, AML . The industry group says that's 11 per cent higher than last year and also surpasses pre-COVID-19 pandemic levels. Secondly, the 0.2% figure is based on intact forest loss. IUCN Oil Palm Task Force Gland, Switzerland: IUCN. Why has the market for palm oil and vegetable oils more broadly increased so rapidly? In the next section we will look at what countries produce palm oil, but here we see a map of palm oil imports. This would represent an increase of 4.4 mb/d from 2019 levels. Help us do this work by making a donation. As the third largest oil-producing nation, Russia accounts for 10 percent of global output. Thank you for subscribing. 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. Pressure from consumers can filter through to growers. 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. 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. U.S. oil production has seen significant growth since 2010. Equals the arithmetic difference between total demand minus total nonOPEC supply minus OPEC NGLs. 43% also answered Dont know, meaning that almost no one thought it was good. 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. Explore global data on soy production, how its used, and how much deforestation is caused by its expansion. ";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)". In 2018, the world produced 72 million tonnes of oil palm. It holds the worlds fifth largest proven oil reserves at 145 billion barrels; that represents 8.4 percent of global reserves. Our World in Data is free and accessible for everyone. The last frontiers of wilderness: Tracking loss of intact forest landscapes from 2000 to 2013. Most sources of global crude oil supply projected until 2040 can break even below $50/bbl Brent in constant 2020 dollar terms. Each of these countries experienced major production declines at different times in the past, but since 2014 all three have been producing near their peak rates of 9 to 11 million barrels per day. In this sense, palm oil has been a land sparing crop. Being the most productive oilcrop, palm has taken up a lot of this production. What activities are driving this? The less land we need for farming, the better. Other producers include Thailand, Colombia, Nigeria, Guatemala, and Ecuador. Interestingly enough, 2010 was also the time that Crude Oil prices plummeted because of supply and demand concerns. We also provide some thoughts concerning compliance and risk mitigation in this challenging environment. China is the worlds most populous country and has a rapidly growing economy, factors that have driven its high overall energy demand. That's serious performance, the kind that will always delight investors, and . Show Recessions 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. In recent history, the top three producers have been the United States, Russia, and Saudi Arabia. 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. History of Global Oil Consumption Not all of these plantations were the direct driver of this replacement. 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. Most recently, the Trump Administration placed Venezuela's oil sector under . No crop is 100% oil-based, and therefore this will differ from the mass of the crop itself. And yet, there may be no return to normal for the oil market in the post-Covid era. Our World In Data is a project of the Global Change Data Lab, a registered charity in England and Wales (Charity Number 1186433). Currently the world devotes around 322 million hectares to oilseed crops. The EU after China and India is the third largest importer of palm oil. 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. 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. Venezuela's oil production has shrunk by 75% over the past ten years, due largely to its own political missteps. , Top 5 US Oil and Gas Dividend Stocks in 2023. There are a number of steps we can take to ensure we meet global demand for oils, without destroying our tropical forests. 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. 1. 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. Increase companies sourcing from suppliers with sustainability certification. IEA, World oil supply and demand, 1971-2020, IEA, Paris https://www.iea.org/data-and-statistics/charts/world-oil-supply-and-demand-1971-2020, IEA. The Dominant Oil Producing States Impressively, 71% of total U.S. oil production came from just five states. In Germany, for example, bioenergy is the largest use, accounting for 41% (more than food at 40%). This video shows the Top 20 countries by their total oil production from 1900 to 2020 (last 120 years). 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. This is based on reported figures as of November 2020. The change in global production is shown in the chart.3. Who uses palm oil and what is it used for? Licence: CC BY 4.0, Keep up to date with our latest news and analysis by subscribing to our regular newsletter. You can unsubscribe at any time by clicking the link at the bottom of any IEA newsletter. If we werent meeting global oil demand through palm oil, another oilcrop would have to take its place. Deforestation displaced: trade in forest-risk commodities and the prospects for a global forest transition. Its of course true that some crops provide co-products in the process. 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. Retailers know that this is becoming an important driver of consumer choices. This indicator is measured in thousand tonne of oil equivalent (toe).Crude oil is a mineral oil . The global economy and oil markets are recovering from the historic collapse in demand caused by the coronavirus (Covid-19) pandemic in 2020. But there are a couple of caveats to these figures. Only 2.8% was in Indonesia, and 0.2% in Malaysia. Read on for a look at the top 10 oil-producing countries in 2021. The country possesses 17 percent of the worlds proven petroleum reserves and is the largest petroleum exporter. But in the absence of fresh upstream investments, the spare capacity cushion will slowly erode. 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. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 600+ segments in 150+ countries, Insights on consumer attitudes and behavior worldwide, Business information on 60m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. Oil palm and biodiversity. These reports can be viewed here. 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. Heres a look at the top 10 oil-producing countries. What is it used for? This comparison is shown in the chart.12 Palm oil stands out immediately. As we discuss in our related article on this, deforestation accounts for just one-quarter of global tree loss. The country's rig count went from nine . This metric has been indicative to crude oil spot prices. [4] In May 2019 the country became a net oil and gas exporter for the first time since 1953. Despite its abundant reserves, Irans oil production has substantially fallen in recent years it produced 4,779,000 bpd back in 2017. 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. (2018). 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. In 2016, production reached 3,072,000 bpd, then dropped to 3,025,000 bpd in 2017. What this means is that it accounts for a very high share of oil production without taking up much land. Our articles and data visualizations rely on work from many different people and organizations. 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. 3 min read. Pendrill, F., Persson, U. M., Godar, J., & Kastner, T. (2019). This is a change of 0.39% from last month and 5.06% from one year ago. Crude oil is a naturally occurring mixture of hydrocarbon deposits and other organic materials that exists in liquid form in underground reservoirs. In an oversupplied market suffering from a lack of demand, oil prices turned negative, shocking market participants. Need more data? 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 World Oil Consumption is at a current level of 94.09M, up from 88.75M one year ago. 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. In 2022, the country's US relations have soured to the point that the Arab kingdom seems unwilling to increase production in an effort to bring down rising gasoline prices. Create a free IEA account to download our reports or subcribe to a paid service. But this is reasonably consistent with studies that have looked at the expansion of palm plantations more broadly. The countrys annual oil production rose to 5,558,000 bpd in 2021, up from 2020s output levels of 5,235,000 bpd. Third, it gets incredibly high yields. The rise of palm oil follows the rapid increase in demand for vegetable oils more broadly. 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. 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. In 2020, operators spent one-third less than planned at the start of the year (and 30% less than in 2019). Substitution would be feasible for most food products. 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S 11 per cent higher than last year and also surpasses pre-COVID-19 pandemic.! Baghdad Conference in 1960, with founding members Iran, Iraq, Kuwait, Saudi Arabia oil.! A map of palm oil stands out immediately oil Consumption Not all of plantations... Meeting global oil demand through palm oil, but here we see a map of palm oil stands out.... Break even below $ 50/bbl Brent in constant 2020 dollar terms take to ensure we global... True that some oil production by country last 10 years provide co-products in the next section we will look at the expansion palm... Nigeria, Guatemala, and 0.2 % figure is based on intact forest loss total demand minus nonOPEC! No one thought it was good explore global data on soy production, how its used, and Arabia. 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