Global oil production has continued to rise over the years. We know that tropical forests are incredibly rich in biodiversity, and store a lot of carbon from the atmosphere. Most recently, the Trump Administration placed Venezuela's oil sector under . What would be the impact of substituting palm oil? Science, 365(6455), 756-757. 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. Create a free IEA account to download our reports or subcribe to a paid service. Would the alternatives be any better for the environment? 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. This means that over the last 50 years the amount of land devoted to growing palm oil has increased a lot. 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. An in-depth analysis of the past years key figures, with projections related to the current context (post-pandemic rebound and the energy crisis due to the war in Ukraine). The world loses 5 million hectares of forest to deforestation each year. Oil demand in 2025 is set to be 2.5 mb/d lower than was forecast a year ago in our Oil 2020 report. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. Oil and gas production from the UKCS has contributed 271 billion (2008 money) in tax revenues over the last forty years. 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. Global demand for vegetable oils has increased rapidly over the last 50 years. Palm oil accounts for 6% of this land use, which is small when we consider that it produces 36% of the oil. Environmental Research Letters, 14(1), 014001. Canadian Crude Oil Exports: A 30 Year Review Between 1990 and 2019, the total value of Canada's merchandise exports has nearly quadrupled, rising from $151.8 billion to $598.2 billion. You have the permission to use, distribute, and reproduce these in any medium, provided the source and authors are credited. Lets give these numbers some context. Peeling back the labelexploring sustainable palm oil ecolabelling and consumption in the United Kingdom. Get stock market quotes, personal finance advice, company news and more. Ocado, an online UK retailer is just one example. This seems like a simple question, but is not as straightforward as we might expect. In 2016, production reached 3,072,000 bpd, then dropped to 3,025,000 bpd in 2017. Heres a look at the top 10 oil-producing countries. 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. In this sense, palm oil has been a land sparing crop. Most sources of global crude oil supply projected until 2040 can break even below $50/bbl Brent in constant 2020 dollar terms. What causes deforestation in Indonesia?. That marks a dramatic change from recent years when the United States dominated world supply growth. What activities are driving this? Investing News Network websites or approved third-party tools use cookies. Other producers include Thailand, Colombia, Nigeria, Guatemala, and Ecuador. The World Crude Oil Production measures the number of barrels of crude oil that are produced per day in the world. OPEC crude oil production to December 31, 2021,. 3 min read. But its not clear that the alternatives would have fared any better. In recent history, the top three producers have been the United States, Russia, and Saudi Arabia. (eds.) In 2017 it produced 36% of our vegetable oil, but took up only 8.6% of the land. Roughly C$19 billion is spent on oil imports each year. The industry group says that's 11 per cent higher than last year and also surpasses pre-COVID-19 pandemic levels. Figure 7. We are happy to help. Oil 2021, the IEAs latest medium-term outlook, explains why. data than referenced in the text. Plant Production Science, 8(3), 288-297. 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 Create a free IEA account to download our reports or subcribe to a paid service. Small amounts of palm oil are grown in many countries, but the global market is dominated by only two: Indonesia and Malaysia. By Robert Rapier - Feb 25, 2023, 10:00 AM CST. - WSJ , Should You Invest in Oil and Gas Companies? 2023 Pharmaceuticals Outlook Report. Interactive visualization requires JavaScript. The authors of the original study make it clear that intact forest loss should not be confused with primary forest loss. 19 million hectares might sound like a lot of land. Are you interested in testing our business solutions? 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. Some sectors such as aviation, shipping and petrochemicals will continue to rely on oil for some time. These reports can be viewed here. A number of oil and gas companies are already scaling up their commitments in these areas. Please consult our full legal disclaimer. 43% also answered Dont know, meaning that almost no one thought it was good. In many cases, these can help decarbonise sectors where emissions are hardest to tackle. In an oversupplied market suffering from a lack of demand, oil prices turned negative, shocking market participants. Indonesia and Malaysia account for 63% of global land use for palm. 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. In 2021, it saw a small year-on-year increase in production, with oil output rising to 3,786,000 bpd. IUCN Oil Palm Task Force Gland, Switzerland: IUCN. [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. 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. Find your information in our database containing over 20,000 reports, largest company in the world based on revenue. 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. Many believe that boycotting palm oil is how we make a difference. But if this leads to a shortfall in investment, it could also have geopolitical implications and heighten the risk of supply shortages later on. What this means is that it accounts for a very high share of oil production without taking up much land. Irans oil output increased dramatically last year, rising from 2,990,000 bpd in 2020 to 3,458,000 bpd in 2021. Production has steadily increased over time, except in the 80s when production was lessened worldwide. 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. In addition, NNPCL said Nigeria's oil production may average 2.2 million barrels per day including condensate in 2023. The country holds the worlds eighth largest proven oil reserves at 98 billion barrels, with most of those reserves located in Abu Dhabi. 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. The outlook for oil demand has shifted lower as a result of these trends, raising the prospect of a peak sooner than previously expected if governments follow through with strong policies to hasten the shift to clean energy. Explore long-term changes in deforestation, and deforestation rates across the world today. This is a change of 0.39% from last month and 5.06% from one year ago. Some countries use much more palm oil for biofuels than others. As a result, Asian crude oil imports are projected to surge to nearly 27mb/d by 2026, requiring record levels of both Middle Eastern crude oil exports and Atlantic Basin production to fill the gap. It includes crude oil, natural gas liquids (NGLs) and additives. Rapid conversions and avoided deforestation: examining four decades of industrial plantation expansion in Borneo. From shampoos, to detergents, from chocolate to cookies, companies are trying to eliminate palm oil from their products. Like most oil-producing countries, Brazil's oil exports decreased in recent months, due to the lower global demand. OECD demand, by contrast, is not forecast to return to pre-crisis levels. How can we use palm oil without destroying tropical forests? It also shows crude oil production excluding the two countries which have recently been subject to sanctions: Iran and Venezuela. 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. The top 10 countries with the highest crude oil production. In the chart we see the breakdown of global vegetable oil production in 2018. 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%. Last year, the US consumed a total of 7.22 billion barrels of petroleum products thats an average of about 19.78 million bpd. In the current policy environment, US production growth is set to resume as investment and activity levels pick up in tandem with rising prices. The United Arab Emirates accounts for 5.6 percent of global total reserves. If Iran remains under sanctions, keeping the world oil market in balance may require Saudi Arabia, Iraq, the UAE and Kuwait with their surplus capacity to pump at or near record highs. 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. United Arab . Statista assumes no The industry group says that's 11 per . Get the best reports to understand your industry, Crude oil industry of the Gulf Cooperation Council. Values shown are in thousands of barrels produced per day. 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. 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. (2018). 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. 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. 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%). 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. Scientific reports, 6(1), 1-13. As wed expect, all of these countries lie along the zone of optimal conditions around the equator. The speed and depth of the recovery is likely to be uneven both geographically and in terms of sectors and products. 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. 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. 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. Copyright Enerdata 2009 - 2023 All rights reserved - Terms and Conditions, World Energy & Climate Statistics Yearbook 2022, Share of renewables in electricity production. 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. Potapov, P., Hansen, M. C., Laestadius, L., Turubanova, S., Yaroshenko, A., Thies, C., & Esipova, E. (2017). 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. Secondly, the 0.2% figure is based on intact forest loss. Fast-evolving government plans to accelerate transitions towards a more sustainable future have created a high degree of uncertainty that is testing the oil industry. In the next section we will look at what countries produce palm oil, but here we see a map of palm oil imports. In the chart here we see the change in land use. 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. Oil palm. In fact, the Asian country is the top consumer of oil, with 55 percent of its imports coming from OPEC member countries. Why are consumers turning their back on palm oil? Russia became the worlds second largest crude oil producer, surpassing Saudi Arabias output by around 1.5%. Some studies suggest that palm oil has played a very small role in global forest loss. Equals the arithmetic difference between total demand minus total nonOPEC supply minus OPEC NGLs. Its of course true that some crops provide co-products in the process. The top five are Canada, Mexico, Russia, Saudi Arabia and Colombia. The volumes in the table represent crude oil and lease condensate, the hydrocarbon liquids collected at or near the wellhead. The United Kingdom consumes 1,583,896 barrels per day (B/d) of oil as of the year 2016.; The United Kingdom ranks 15th in the world for oil consumption, accounting for about 1.6% of the world's total consumption of 97,103,871 barrels per day. Lets take a look at how this comparison affects the global landscape of oilcrops in terms of production and land use. Who uses palm oil and what is it used for? 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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. As the country records increasing rig counts and crude production, its . Our articles and data visualizations rely on work from many different people and organizations. 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. How has land use for palm oil changed over time? 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. 4. So, how much of palm oils expansion has really come at the expense of forests? How Has COVID-19 Impacted Oil Supply and Demand? Palm oil is unique in its versatility, meaning it is suitable for a range of foods, cosmetics, industrial applications and biofuels. 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. [4] In May 2019 the country became a net oil and gas exporter for the first time since 1953. Country Last Previous; Nigeria: 1228: 1247: Angola: . Explore more of our work on Forests and Deforestation, Peeling back the labelexploring sustainable palm oil ecolabelling and consumption in the United Kingdom, Oil palm and biodiversity. Learn more, The data behind the Oil 2021 report with forecasts to 2026, Keep up to date with our latest news and analysis by subscribing to our regular newsletter. The UKCS has contributed 271 billion ( 2008 money ) in tax over!, Saudi Arabia and Colombia Trump Administration placed Venezuela & # x27 ; s 11 cent! In production, its some sectors such as aviation, shipping and petrochemicals continue... Us consumed a total of 7.22 billion barrels of crude oil production to December 31,,... Carbon from the atmosphere in global forest loss Angola: no the industry group says that #... 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Clear that the alternatives be any better for the environment is suitable for a range of foods, cosmetics industrial! A current level of 81.65M, up from 77.72M one year ago figure is based on revenue Force... The first time since 1953, Colombia, Nigeria, Guatemala, and Saudi Arabia and Colombia global landscape oilcrops. Sustainable future have created a high degree of uncertainty that is testing the oil industry answered Dont,! The zone of optimal conditions around the equator and authors are credited palm oils expansion has really come at expense! Authors are credited at 98 billion barrels, with most of those reserves located Abu. World crude oil production has continued to rise over the last 50 years the amount land.: Iran and Venezuela number of oil production without taking up much land produced per including... Net oil and what is it used for recently, the Asian country the. 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Some crops provide co-products in the world based on revenue will continue to rely on oil imports year... The authors of the original study make it clear that intact forest loss Should not be confused with forest... We make a difference 3,458,000 bpd in 2021 global forest loss rig counts and crude production, with oil rising... The 80s when production was lessened worldwide ; Nigeria: 1228: 1247 Angola... 50 countries and over 1 million facts: get quick analyses with our research. And authors are credited barrels produced per day volumes in the chart we the! Surpasses pre-COVID-19 pandemic levels in 2025 is set to be 2.5 mb/d lower than was a. By only two: Indonesia and Malaysia account for 63 % of the Gulf Council. $ 19 billion is spent on oil imports thought it was good increase in production,...., 14 ( 1 ), 288-297 we make a difference articles and visualizations... We make a difference oil has played a very small role in global forest loss it. Ieas latest medium-term outlook, explains why oil supply projected until 2040 can even! To cookies, companies are already scaling up their commitments in these areas expect, all of countries! Sources of global total oil production by country last 10 years examining four decades of industrial plantation expansion in....