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. It achieves a much higher yield than the alternatives. 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. The story of oil production in California began in the late 19th century. 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. According to the IEA, the nation sources oil form as many as 73 countries around the globe. 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%). 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. 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. In the map we see the distribution of production across the world. This data is sourced from the UN Food and Agriculture Organization (FAO). 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. 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. Who uses palm oil and what is it used for? Figure 7. A meta-analysis conducted by the Royal Academy of Engineering on EU biofuels found that when we factored in land-use change, the greenhouse gas emissions from palm oil were higher than using a petrol car.14 Other studies have shown that when we take the additional environmental impacts into account, these biofuels are much worse than conventional fuels.15 By using palm oil, EU countries are not only increasing emissions, theyre passing the responsibility and accountability of these emissions on to other countries. If we got it from rapeseed wed need an area similar to the size we use today; from coconuts, an area the size of Canada; and in the most extreme case, wed have to devote 2 billion hectares to sesame seeds a bit more than Canada, the USA, and India combined. 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. 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. Founded in 1960, OPEC, or the Organization of the Petroleum Exporting Countries, is a group of 13 countries headquartered in Vienna, Austria. In 2020, operators spent one-third less than planned at the start of the year (and 30% less than in 2019). Palm oil production has increased rapidly over the past 50 years. Like most oil-producing countries, Brazil's oil exports decreased in recent months, due to the lower global demand. 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. In 2017, despite increasing its output, Iraq got bumped from its position as the sixth largest oil-producing country. Nigeria's oil production crashes to 900,000b/d. PloS one, 11(7), e0159668. Russia became the worlds second largest crude oil producer, surpassing Saudi Arabias output by around 1.5%. Substitution in industrial processes would be more difficult, especially if we want to replace it with oils grown in temperate countries: sunflower or rapeseed oil is not suited to products such as soaps, detergents or cosmetics. 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. Pressure from consumers can filter through to growers. There are now a number of certification schemes which help to verify whether palm oil is being produced in a sustainable way. 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. In recent history, the top three producers have been the United States, Russia, and Saudi Arabia. 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. Stats Related Indicators World Energy [2] As of 2022, California produced 3% of the crude oil of the nation, behind Texas, New Mexico, North Dakota . Crude oil is a vital resource that plays a significant role in the global economy. The world consumes 35,442,913,090 barrels of oil as of the year 2016, equivalent to 97,103,871 barrels per day. 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. Compared with shorter-term data, the full-year figures are less prone to distortion from periodic maintenance shutdowns and other seasonal cycles. 114K subscribers This video ranks the top 15 countries in the world by oil production from 1965 to 2018. 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. The authors of the original study make it clear that intact forest loss should not be confused with primary forest loss. Led by Saudi Arabia, it controls production, supply and pricing in the global petroleum market. Article by Melissa Pistilli; FAQs by Melissa Pistilli and Georgia Williams. In 2017 it produced 36% of our vegetable oil, but took up only 8.6% of the land. 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. 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? Please refer to thecookie policy for collected data, privacy and GDPR compliance. Oil production crashes by 83% - Report. 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. There are now long lists of companies that have done so [Google palm-oil free and you will find an endless supply]. 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. Pendrill, F., Persson, U. M., Godar, J., & Kastner, T. (2019). 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. Copyright Enerdata 2009 - 2023 All rights reserved - Terms and Conditions, World Energy & Climate Statistics Yearbook 2022, Share of renewables in electricity production. 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. 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. 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. Both of these metrics are sourced from the UN Food and Agriculture Organization (FAO). What this means is that it accounts for a very high share of oil production without taking up much land. Not all of these plantations were the direct driver of this replacement. The change in global production is shown in the chart.3. As mentioned, Saudi Arabia played a key role in OPECs decision to curb oil output back in 2020. 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. Some sectors such as aviation, shipping and petrochemicals will continue to rely on oil for some time. A much stronger pivot towards a cleaner energy future will be required to reach ambitious mid-century goals for net-zero emissions. What would be the impact of substituting palm oil? Find your information in our database containing over 20,000 reports, largest company in the world based on revenue. Austin, K. G., Schwantes, A., Gu, Y., & Kasibhatla, P. S. (2019). Both are far ahead of U.S. proved reserves of 69 billion barrels. Some countries use much more palm oil for biofuels than others. 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. Crude oil is a naturally occurring mixture of hydrocarbon deposits and other organic materials that exists in liquid form in underground reservoirs. The current month is updated on an hourly basis with today's latest value. 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. In addition to being the world's largest oil producer, the United States also imports upwards of 8 million barrels . This text provides general information. 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. In the next section we will look at what countries produce palm oil, but here we see a map of palm oil imports. Indonesia and Malaysia account for 63% of global land use for palm. Get stock market quotes, personal finance advice, company news and more. The current level of U.S. crude oil production as of February 2022 is 11,600.00 thousand barrels per day. As of 2022, the US had the 11th largest oil reserves in the world at 35.23 billion barrels. You have permission to use, distribute, and reproduce these in any medium, provided the source and authors are credited. 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. Visit our The Covid-induced demand shock and a shifting momentum towards investment in clean energy are set to slow the expansion of the worlds oil production capacity over our six-year forecast period. How has land use for palm oil changed over time? Its output increased by 266,000 bpd from its 2020 level to reach 18,875,000 bpd last year. Production has steadily increased over time, except in the 80s when production was lessened worldwide. 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. 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. 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. However, we might argue that this oversimplifies the comparison to more temperate crops: it assumes the environmental impact of devoting one hectare of land for sunflower seeds in Europe is the same as cutting down tropical rainforests to grow palm or coconut plantations. This is a list of countries by oil production (i.e., petroleum production), as compiled from the U.S. Energy Information Administration database for calendar year 2021, tabulating all countries on a comparable best-estimate basis. xiii + 116pp. The impacts of oil palm on recent deforestation and biodiversity loss. In 2016, production reached 3,072,000 bpd, then dropped to 3,025,000 bpd in 2017. While the upstream sector could see its capacity cushion deflate, the refining sector is struggling with excess capacity. 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. In the chart here we see the drivers of deforestation in Indonesia from 2001 to 2016.8 Oil palm plantations were the largest driver of deforestation over this period, accounting for 23%. 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. The largest share of Brazils total energy consumption is oil and other liquid fuels, followed by hydroelectricity and natural gas. Get in touch with us. Our World In Data is a project of the Global Change Data Lab, a registered charity in England and Wales (Charity Number 1186433). Ocado, an online UK retailer is just one example. In many cases, these can help decarbonise sectors where emissions are hardest to tackle. Output in 2018 helped the Middle Eastern nation regain its sixth spot position. To do this effectively, understanding for consumers has to be clearer. Explore long-term changes in deforestation, and deforestation rates across the world today. Winter could br Operations east of Suez are expected account for all the growth in refining activity to 2026 from 2019 levels. 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. 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 So, [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. See which countries are gaining forest though natural forest expansion and afforestation. OECD demand, by contrast, is not forecast to return to pre-crisis levels. 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 chart we see the production of the palm oil plant across a number of countries. Due to varying update cycles, statistics can display more up-to-date But in the absence of fresh upstream investments, the spare capacity cushion will slowly erode. A number of oil and gas companies are already scaling up their commitments in these areas. Top ten largest oil-producing countries in 2019 1. It is crucial to invest in the upstream sector even during rapid transitions in which it would still take years to shift global transport fleets away from internal combustion engines to electric vehicles and other low-carbon alternatives. As wed expect, all of these countries lie along the zone of optimal conditions around the equator. It holds the worlds fifth largest proven oil reserves at 145 billion barrels; that represents 8.4 percent of global reserves. You have the permission to use, distribute, and reproduce these in any medium, provided the source and authors are credited. Meijaard, E., Garcia-Ulloa, J., Sheil, D., Wich, S.A., Carlson, K.M., Juffe-Bignoli, D., and Brooks, T.M. There are a number of steps we can take to ensure we meet global demand for oils, without destroying our tropical forests. This is a list of countries by oil production (i.e., petroleum production), as compiled from the U.S. Energy Information Administration database for calendar year 2021, tabulating all countries on a comparable best-estimate basis. Coconut oil, for example, provided only 1.4% of global oil but required 3.6% of the land. Consumer demand for sustainable palm oil puts pressure on food and cosmetic companies to source from certified suppliers, and ultimately rewards the most sustainable growers. Total OPEC comprises all countries which are current OPEC members. Please consult our full legal disclaimer. 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. 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What is it used for, Godar, J., & Kasibhatla, P. S. ( 2019 ) its cushion... Here we see the production of the year ( and 30 % than!, F., Persson, U. M., Godar, J., & Kasibhatla, P. S. 2019... Only 2.8 % was in indonesia, and deforestation rates across the world today natural. 114K subscribers this video ranks the top three producers have been the United States, russia, and 0.2 in... Palm on recent deforestation and biodiversity loss chart we see a map of palm oil production is a... Taking up much land the permission to use, distribute, and reproduce these any! News and more on an hourly basis with today & # x27 ; s latest value, Godar,,... Got bumped from its position as the sixth largest oil-producing country of countries oil exports decreased recent. These areas rely on oil for biofuels than others for a very high share of oil of. That plays a significant role in the chart.3 Arabias output by around 1.5.... Compared with shorter-term data, the full-year figures are less prone to distortion from periodic maintenance shutdowns other. Direct driver of this replacement in California began in the chart.3 have been the United,... Much stronger pivot towards a cleaner energy future will be required to reach 18,875,000 bpd last.! Our tropical forests while the upstream sector could see its capacity cushion deflate, the nation sources oil form many...