Our World in Data is free and accessible for everyone. Our articles and data visualizations rely on work from many different people and organizations. This text provides general information. There are now long lists of companies that have done so [Google palm-oil free and you will find an endless supply]. Many online grocery stores now offer the option to apply a palm-oil free filter when browsing their products.2. The Dominant Oil Producing States Impressively, 71% of total U.S. oil production came from just five states. Get in touch with us. So, how much of palm oils expansion has really come at the expense of forests? The current price of WTI crude oil as of February 28, 2023 is $77.09 per barrel. Help us do this work by making a donation. Other producers include Thailand, Colombia, Nigeria, Guatemala, and Ecuador. In the map we see the distribution of production across the world. From: Department for Business,. Canada has been embroiled in a national debate over pipelines. 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 holds the worlds fifth largest proven oil reserves at 145 billion barrels; that represents 8.4 percent of global reserves. This video shows the Top 20 countries by their total oil production from 1900 to 2020 (last 120 years). Palm oil has been an important driver of deforestation. help centre, See if you qualify for a discount. There are a couple of reasons why palm oil has been the favored crop to meet growing demand for vegetable oils. According to the EIA, total primary energy consumption in Brazil has nearly doubled in the past decade because of sustained economic growth. 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 US is the top producer of oil, but the country requires foreign imports to meet its increasing domestic demand. See the distribution of global forests and which countries have the most forest cover. Winter could br 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 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. In 2021, the United States, Russia, and Saudi Arabia were the three largest crude oil producers, respectively. The industry paid 12.9 billion [21] in corporate taxes in 2008-9, the largest since the mid-1980s, because of high oil and gas prices. Potapov, P., Hansen, M. C., Laestadius, L., Turubanova, S., Yaroshenko, A., Thies, C., & Esipova, E. (2017). 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. The world loses 5 million hectares of forest to deforestation each year. If we werent meeting global oil demand through palm oil, another oilcrop would have to take its place. Both are far ahead of U.S. proved reserves of 69 billion barrels. Number one on this list of the top 10 oil-producing countries is the US. And why has the country seen its oil production plummet by more than 75% over the past decade? If you want to produce one tonne of oil, you would need 4 times the amount of cropland devoted to sunflower or rapeseed, or 10 to 15 times the amount of land devoted to coconut production. In 2020, operators spent one-third less than planned at the start of the year (and 30% less than in 2019). 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. But would the alternatives have fared any better? That's serious performance, the kind that will always delight investors, and . 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. At the same time, more and more governments are focusing on the potential for a sustainable recovery as a way to accelerate momentum towards a low-carbon future. That marks a dramatic change from recent years when the United States dominated world supply growth. Chart Tools. This metric has been indicative to crude oil spot prices. 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. Only 19% of palm oil production is covered by the RSPO.17 Research into the impact of the RSPO found that it was successful in reducing deforestation.18 However, it found that this most avoided deforestation from older plantations, which is not where most tropical forests remain. But if this leads to a shortfall in investment, it could also have geopolitical implications and heighten the risk of supply shortages later on. This data is sourced from the UN Food and Agriculture Organization (FAO). To make space for more croplands and pastures, we have been displacing forests, grasslands and peatlands areas of rich biodiversity. 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. The volumes in the table represent crude oil and lease condensate, the hydrocarbon liquids collected at or near the wellhead. The central theme of 2022 was the U.S. government's deploying of its sanctions, AML . Create a free IEA account to download our reports or subcribe to a paid service. 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 chart we see the breakdown of global vegetable oil production in 2018. Palm oil production has grown to meet rising demands for vegetable oils. The top 10 countries with the highest crude oil production. Those sharp spending cuts and project delays are already constraining supply growth across the globe, with world oil production capacity now set to increase by 5 mb/d by 2026. Values shown are in thousands of barrels produced per day. (eds.) There are some products where using palm is our best option. 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. Global demand for vegetable oils has increased rapidly over the last 50 years. Venezuela was way down the list, at #25 . Oil production is measured in barrels per day. Prior to production cuts in 2020, Russian oil output had spent a number of years rising; it hit 10,778,000 bpd last year. 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. Pressure from consumers can filter through to growers. The story of palm oil is not as simple as it is often portrayed. 2023 Gold Outlook: Australia Edition. The industry group says that's 11 per cent higher than last year and also surpasses pre-COVID-19 pandemic levels. European Journal of Lipid Science and Technology, 109(4), 307-314. This raw natural resource is a globally important commodity that can be traded both on the spot oil market and via derivatives contracts. The non-oil fraction of soybeans, for example, can be allocated to other uses such as high-protein animal feed. 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. Minimising emissions from their core operations, notably methane, is an urgent priority. 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. Intact forests are a specific subset of primary forests which are very rich sites of biodiversity, and are largely undisturbed by human activity. 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. Both of these metrics are sourced from the UN Food and Agriculture Organization (FAO). 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. Direct deforestation for palm oil played a larger role in Malaysia; 60% was driven by plantations, whilst in Indonesia it was only 16%. Oil Price and Inflation: Whats the Correlation? Help us do this work by making a donation. The country's rig count went from nine . Oil demand in 2025 is set to be 2.5 mb/d lower than was forecast a year ago in our Oil 2020 report. Crude oil is a naturally occurring mixture of hydrocarbon deposits and other organic materials that exists in liquid form in underground reservoirs. Thank you for subscribing. 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. Sunflower oil was almost exactly proportional in terms of how much oil it produced relative to how much land it took up: it produced 9% of oil, and required 8.3% of land. Country Last Previous; Nigeria: 1228: 1247: Angola: . Interestingly enough, 2010 was also the time that Crude Oil prices plummeted because of supply and demand concerns. Dont forget to follow us @INN_Resource for real-time news updates! Sustainability of liquid biofuels. To do this effectively, understanding for consumers has to be clearer. 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. 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. In 2017 it produced 36% of our vegetable oil, but took up only 8.6% of the land. Net volumetric gains and losses in the refining process and marine transportation losses. Stats Related Indicators World Energy The current level of U.S. crude oil production as of February 2022 is 11,600.00 thousand barrels per day. 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. Scientific reports, 6(1), 1-13. From each hectare of land, you can produce about 2.9 tonnes of palm oil. OPEC crude oil production to December 31, 2021,. Venezuela's heavy crude oil is especially prized by U.S. refiners. Most sources of global crude oil supply projected until 2040 can break even below $50/bbl Brent in constant 2020 dollar terms. In 2016, production reached 3,072,000 bpd, then dropped to 3,025,000 bpd in 2017. The global economy and oil markets are recovering from the historic collapse in demand caused by the coronavirus (Covid-19) pandemic in 2020. Visit our 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. The US also consumes more oil than any other country worldwide. On the left we have each crops share of global land use for vegetable oils; on the right we have its share of production. Global production increased ten-fold since the 1960s from 17 to 170 million tonnes in 2014. Why does this matter? The world devotes more than 300 million hectares for oilcrop production. 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. Ocado, an online UK retailer is just one example. Please refer to thecookie policy for collected data, privacy and GDPR compliance. [2] As of 2022, California produced 3% of the crude oil of the nation, behind Texas, New Mexico, North Dakota . 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. Kuwaits oil and gas sector accounts for about 60 percent of the countrys GDP, and an even larger share of its export revenues at around 95 percent. Irans oil output increased dramatically last year, rising from 2,990,000 bpd in 2020 to 3,458,000 bpd in 2021. Environmental Research Letters, 14(1), 014001. Explore palm oil production across the world, and its impacts on the environment. PloS one, 11(7), e0159668. A much stronger pivot towards a cleaner energy future will be required to reach ambitious mid-century goals for net-zero emissions. Energy stocks outperformed last year, with the sector generally gaining 59% in a year when the S&P 500 dropped 19%. Oil palm. Top 10 Countries with the Highest Oil Production (barrels per day) United States - 11,567,000 Russia - 10,503,000 Saudi Arabia - 10,225,000 Canada - 4,656,000 Iraq - 4,260,000 China - 3,969,000 United Arab Emirates - 2,954,000 Brazil - 2,852,000 Kuwait - 2,610,000 Iran - 2,546,000 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. Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article. , Top 5 US Oil and Gas Dividend Stocks in 2023. This is a change of 0.12% from last month and 3.48% from one year ago. Our World In Data is a project of the Global Change Data Lab, a registered charity in England and Wales (Charity Number 1186433). Rapid conversions and avoided deforestation: examining four decades of industrial plantation expansion in Borneo. In Germany, for example, bioenergy is the largest use, accounting for 41% (more than food at 40%). This comparison is shown in the chart. Now into 2022, Russias aggressive war against Ukraine has sent oil prices skyrocketing. The outlook for the tight oil industry has been tempered by an apparent shift in the business model towards spending discipline, free cash flow generation, deleveraging and cash returns for investors. The authors of the original study make it clear that intact forest loss should not be confused with primary forest loss. Its output increased by 266,000 bpd from its 2020 level to reach 18,875,000 bpd last year. 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 memorandum surveys U.S. economic sanctions and anti-money laundering ("AML") developments and trends in 2022 and provides an outlook for 2023. Indonesia accounted for 57% of this (41 million tonnes), and Malaysia produced 27% (20 million tonnes). World Oil Consumption is at a current level of 94.09M, up from 88.75M one year ago. 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. Lets take a look at how this comparison affects the global landscape of oilcrops in terms of production and land use. Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article. If we want to limit our environmental impact, reducing the amount of land we devote to agriculture is key. Due to varying update cycles, statistics can display more up-to-date European countries should stop using palm oil for biofuels. Reducing tropical deforestation. The United States. The implications of a potential loss of Russian oil exports to global markets cannot be understated, the IEA stated. Palm oil is unique in its versatility, meaning it is suitable for a range of foods, cosmetics, industrial applications and biofuels. This is a change of 0.39% from last month and 5.06% from one year ago. Many companies are already . 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. 4. This is based on reported figures as of November 2020. Substitutes for palm oil do not always exist. Please consult our full legal disclaimer. Global crude oil output rose by less than 1% in 2021 after a 7.4% drop in 2020. All of this demand growth relative to 2019 is expected to come from emerging and developing economies, underpinned by rising populations and incomes. In the absence of more rapid policy intervention and behavioural changes, longer-term drivers of growth will continue to push up oil demand. 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. Oil production crashes by 83% - Report. In 1970, the world was producing only 2 million tonnes. Palm oils contribution to deforestation which has greater environmental impacts than degradation would be higher. 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. To meet its own oil demand, the US must rely on oil imports from countries. Statistics are from the Energy Information Administration (EIA) and include total production of petroleum and other liquids. Founded in 1960, OPEC, or the Organization of the Petroleum Exporting Countries, is a group of 13 countries headquartered in Vienna, Austria. In April 2022, Brazil was reportedly in discussions with the US to increase its oil production in response to Russias war in Ukraine. Read on for a look at the top 10 oil-producing countries in 2021. Brazil - 2,515,459bbl/day Brazil is the largest producer of oil in South America, with a production rate of over 2.5mbbl/day. Statistics are from the historic collapse in demand caused by the coronavirus ( Covid-19 ) pandemic 2020! 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