Indonesia and Malaysia account for 63% of global land use for palm. 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 Being the most productive oilcrop, palm has taken up a lot of this production. 3. See which countries are gaining forest though natural forest expansion and afforestation. Our World In Data is a project of the Global Change Data Lab, a registered charity in England and Wales (Charity Number 1186433). By 2026, global effective spare production capacity (excluding Iran) could fall to 2.4mb/d, its lowest level since 2016. Direct deforestation for palm oil played a larger role in Malaysia; 60% was driven by plantations, whilst in Indonesia it was only 16%. help centre, See if you qualify for a discount. Thank you for subscribing. OPEC was created at the Baghdad Conference in 1960, with founding members Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. United Arab . Brazils oil production fell slightly from 3,769,000 bpd in 2020 to 3,689,000 bpd in 2021. Production has steadily increased over time, except in the 80s when production was lessened worldwide. A situation analysis by the IUCN Oil Palm Task Force. 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. Crude oil production is defined as the quantities of oil extracted from the ground after the removal of inert matter or impurities. Oil production is measured in barrels per day. The global market still looks adequately supplied through much of the medium term. 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. In an oversupplied market suffering from a lack of demand, oil prices turned negative, shocking market participants. In recent history, the top three producers have been the United States, Russia, and Saudi Arabia. Explore long-term changes in deforestation, and deforestation rates across the world today. Both of these metrics are sourced from the UN Food and Agriculture Organization (FAO). Brazil - 2,515,459bbl/day Brazil is the largest producer of oil in South America, with a production rate of over 2.5mbbl/day. 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. Licenses: All visualizations, data, and articles produced by Our World in Data are open access under the Creative Commons BY license. 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. Palm oil markets and future supply. In the map we see the distribution of production across the world. It thrives on high rainfall, adequate sunlight and humid conditions this means the best growing areas are along a narrow band around the equator.4 Palm oil is therefore grown in many countries across Africa, South America, and Southeast Asia. Global palm yields have increased over time, but far short of the increase in demand. Statistics are from the Energy Information Administration (EIA) and include total production of petroleum and other liquids. But would the alternatives have fared any better? Oil palm. 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. 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. 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. The US also consumes more oil than any other country worldwide. As we discuss in our related article on this, deforestation accounts for just one-quarter of global tree loss. 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 Oil 2021 The data behind the Oil 2021 report with forecasts to 2026 Data set Using palm oil as a biofuel is worse for the environment than petrol. Led by Saudi Arabia, it controls production, supply and pricing in the global petroleum market. What activities are driving this? Only 2.8% was in Indonesia, and 0.2% in Malaysia. To make space for more croplands and pastures, we have been displacing forests, grasslands and peatlands areas of rich biodiversity. 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. There are some products where using palm is our best option. Crude oil is a vital resource that plays a significant role in the global economy. This will involve more concrete government policies and legislative action, as well as major behavioural changes. 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. These forces are creating a dilemma for oil-producing countries and companies that are reluctant to leave resources in the ground or build new capacity that could sit idle. There are a number of steps we can take to ensure we meet global demand for oils, without destroying our tropical forests. A global study of palm-driven deforestation found that in Southeast Asia, 45% of oil palm plantations came from areas that were forests in 1989.10 In Indonesia this was 54% and in Malaysia, 40%. From shampoos, to detergents, from chocolate to cookies, companies are trying to eliminate palm oil from their products. Energy stocks outperformed last year, with the sector generally gaining 59% in a year when the S&P 500 dropped 19%. Total Non-OPEC excludes all countries that are currently members of OPEC. Our World In Data is a project of the Global Change Data Lab, a registered charity in England and Wales (Charity Number 1186433). China is the worlds most populous country and has a rapidly growing economy, factors that have driven its high overall energy demand. The world consumes 35,442,913,090 barrels of oil as of the year 2016, equivalent to 97,103,871 barrels per day. This raw natural resource is a globally important commodity that can be traded both on the spot oil market and via derivatives contracts. The speed and depth of the recovery is likely to be uneven both geographically and in terms of sectors and products. Wahid, M. B., Abdullah, S. N. A., & IE, H. (2005). 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. NEW! But this is reasonably consistent with studies that have looked at the expansion of palm plantations more broadly. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Leading global oil and gas producers based on revenue 2022, Proved crude oil reserves worldwide from 1990 to 2020 (in billion barrels), Oil production worldwide from 1998 to 2021 (in million metric tons), Daily demand for crude oil worldwide from 2006 to 2020, with a forecast until 2026* (in million barrels per day), Global crude oil investment returns 2010-2021, Return rate on crude oil investments worldwide from 2010 to 2021, Volume of crude oil and natural gas discoveries worldwide from 2015 to 2021 (in billion barrels of oil equivalent), Global proved oil reserves breakdown by country 1992-2020, Distribution of proved oil reserves worldwide in select years from 1992 to 2020, by region, Global oil reserves share by country 2020, Distribution of oil reserves worldwide in 2020, by country, Leading oil-producing countries worldwide in 2021 (in 1,000 barrels per day), Global seaborne trade volume of crude oil 2010-2021, Transport volume of crude oil in seaborne trade worldwide from 2010 to 2021 (in million metric tons), Leading crude oil and oil products exporters worldwide in 2021, by region or country (in 1,000 barrels per day), Global crude oil export value by country 2021, Countries with highest value of crude oil exports worldwide in 2021 (in billion U.S. dollars), Leading crude oil importers worldwide in 2021 (in 1,000 barrels per day), Average annual Brent crude oil price from 1976 to 2023 (in U.S. dollars per barrel), West Texas Intermediate annual average oil price 1976-2023, Average annual West Texas Intermediate (WTI) crude oil price from 1976 to 2023 (in U.S. dollars per barrel), Average annual OPEC crude oil price from 1960 to 2022 (in U.S. dollars per barrel), Oil consumption worldwide from 1970 to 2021 (in million metric tons), Global oil consumption share 2010 & 2021, by region, Oil consumption share worldwide in 2010 and 2021, by region, Leading oil-consuming countries worldwide in 2021 (in 1,000 barrels per day), Leading oil demanding sectors in the OECD 2020, Distribution of oil demand in the OECD in 2020, by sector, Leading oil and gas companies worldwide based on revenue as of 2022 (in billion U.S. dollars), Leading oil and gas producers based on market cap October 2022, Leading oil and gas companies worldwide based on market capitalization as of October 2022 (in billion U.S. dollars), Operating revenue of BP from 2005 to 2021* (in million U.S. dollars), Operating revenue of ExxonMobil from 2001 to 2021 (in million U.S. dollars), Revenue of Shell from 2005 to 2021 (in billion U.S. dollars), Value of revenue of Saudi Aramco 2017-2021, Value of revenue of Saudi Aramco from 2017 to 2021 (in billion U.S. dollars), Operating revenue of China Petroleum and Chemical Corporation (Sinopec) from 2010 to 2021 (in billion yuan), Global oil and gas investment volume 2019-2024, by sector, Estimated oil and gas investments across the value chain and by type from 2019 to 2021, with a forecast until 2024 (in billion U.S. dollars), Global upstream M&A deal values 2016-2021, Merger and acquisition transaction value in the oil and gas exploration and production industry worldwide from 2016 to 2021 (in billion U.S. dollars), Global oil and gas workforce by country 2019-2021, Estimated number of oil and gas industry employees worldwide from 2019 to 2021, by country (in 1,000s), Monthly global liquid fuels consumption 2019-2022, Monthly petroleum and other liquids consumption worldwide from August 2019 to November 2022, with a forecast until December 2023 (in million barrels per day), Monthly global liquid fuels consumption by region 2019-2023, Monthly petroleum and other liquids consumption worldwide from January 2019 to January 2022, with a forecast until December 2023, by select region and country (in million barrels per day), Global oil products demand outlook 2020-2045, Demand outlook for selected oil products worldwide from 2020 to 2045 (in million barrels per day), Oil and gas companies most affected in net zero emissions scenario 2030, Forecast oil and gas production in 2030 as a proportion of 2021 levels following net zero development scenario, by company*. 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. Energy exports to the US account for the vast majority of Canadas total energy exports. The less land we need for farming, the better. One sector where alternatives do exist is bioenergy, which brings us to our next point. Secondly, the 0.2% figure is based on intact forest loss. Net volumetric gains and losses in the refining process and marine transportation losses. 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 History of Global Oil Consumption The world loses 5 million hectares of forest to deforestation each year. The volumes in the table do not include biofuel. 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. You can unsubscribe at any time by clicking the link at the bottom of any IEA newsletter. In early September 2022, Bloomberg reported that US oil production was down because the countrys shale producers have prioritized dividend payouts to shareholders rather than investing record profits from surging oil prices back into growing their production capacity. 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. 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. Who uses palm oil and what is it used for? This is a change of 0.12% from last month and 3.48% from one year ago. Rape and mustardseed oil were also in proportion. Canada has been embroiled in a national debate over pipelines. 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. Indonesia accounted for 57% of this (41 million tonnes), and Malaysia produced 27% (20 million tonnes). Pressure from consumers can filter through to growers. [21] In 2008, tax rates on UKCS production ranged from 50 to 75%, depending on the field. European Journal of Lipid Science and Technology, 109(4), 307-314. Interactive historical chart showing the monthly level of U.S. crude oil production back to 1983 from the US Energy Information Adminstration (EIA). In the worldwide oil industry, an. The global economy and oil markets are recovering from the historic collapse in demand caused by the coronavirus (Covid-19) pandemic in 2020. Small amounts of palm oil are grown in many countries, but the global market is dominated by only two: Indonesia and Malaysia. The rise of palm oil follows the rapid increase in demand for vegetable oils more broadly. 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. Top of Page Print Page 2023 Organization of the Petroleum Exporting Countries Sitemap Data Policy Disclaimer Terms and Conditions Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article. , 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? Our World in Data is free and accessible for everyone. Output in 2018 helped the Middle Eastern nation regain its sixth spot position. A much stronger pivot towards a cleaner energy future will be required to reach ambitious mid-century goals for net-zero emissions. 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. Palm oil production has grown to meet rising demands for vegetable oils. In the chart here we see the change in land use. From: Department for Business,. The country has seen its oil production decrease significantly in recent years, falling from 4,788,000 bpd in 2019 to 4,149,000 bpd in 2021. Oil demand in 2025 is set to be 2.5 mb/d lower than was forecast a year ago in our Oil 2020 report. We can simply calculate this as 1 / Yield (in tonnes per hectare). As wed expect, all of these countries lie along the zone of optimal conditions around the equator. China recently signed a 25 year trade and security agreement with Iran, and has called on the US to drop its sanctions. While the upstream sector could see its capacity cushion deflate, the refining sector is struggling with excess capacity. Global demand for vegetable oils has increased rapidly over the last 50 years. Global crude oil output rose by less than 1% in 2021 after a 7.4% drop in 2020. At the current pace, American production will decline to less than 11 million barrels a day by the end of the year, from 13.3 million barrels a day at the end of 2019. Investing News Network websites or approved third-party tools use cookies. Oil 2021, the IEAs latest medium-term outlook, explains why. Is palm oil responsible for deforestation? What this means is that it accounts for a very high share of oil production without taking up much land. 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. Against this backdrop, it is hardly surprising that upstream investments and expansion plans have been scaled back. The price of oil shown is adjusted for inflation using the headline CPI and is shown by default on a logarithmic scale. This is shown for the Indonesian and Malaysian Borneo in the chart. Although total U.S. oil production declined between 1985 and 2008, annual production increased nearly every year from 2009 through 2019, reaching the highest amount on record in 2019. In addition to being the world's largest oil producer, the United States also imports upwards of 8 million barrels . ";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)". We know from our yield comparison that palm oil achieves a much higher yield. Heres a look at the top 10 oil-producing countries. Together, these three countries combine for 39.1% of global oil production, and about 24.9% of the world's proven oil reserves. 3 min read. In the chart we see the production of the palm oil plant across a number of countries. There are a couple of reasons why palm oil has been the favored crop to meet growing demand for vegetable oils. 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. Potapov, P., Hansen, M. C., Laestadius, L., Turubanova, S., Yaroshenko, A., Thies, C., & Esipova, E. (2017). 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. ; The United Kingdom consumes 1.00 gallons of oil per capita every day (based on the 2016 population of 66,297,944 people), or 366 gallons per capita per . Switching to alternatives would mean the world would need to use more farmland, and face the environmental costs that come with it. Rapid conversions and avoided deforestation: examining four decades of industrial plantation expansion in Borneo. 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%). Not all of these plantations were the direct driver of this replacement. 2023 Pharmaceuticals Outlook Report. OECD demand, by contrast, is not forecast to return to pre-crisis levels. In addition to being a major oil producer, the US is a big consumer of oil. So, how much of palm oils expansion has really come at the expense of forests? 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. 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. Follows the rapid increase in demand caused by the coronavirus ( Covid-19 ) pandemic in.! If you qualify for a very high share of oil extracted from the energy Information Adminstration EIA... Is defined as the quantities of oil as of the medium term produced 27 % ( 20 tonnes. Been scaled back Arabia, it controls production, supply and pricing in the global and! Raw natural resource is a big consumer of oil production is defined as the quantities of oil as the! Commons by license forest expansion and afforestation equivalent to 97,103,871 barrels per day palm! Rise of palm oils expansion has really come at the expansion of plantations... And Malaysia account for the vast majority of Canadas total energy exports to US... The production of the increase in demand for vegetable oils are a couple reasons... Major oil producer, the IEAs latest medium-term outlook, explains why the Eastern. Also consumes more oil than any other country worldwide to pre-crisis levels used. Task Force look at the Baghdad Conference in 1960, with founding members Iran, Iraq, Kuwait Saudi... Or approved third-party tools use cookies Data, and articles produced by our in! In land use for palm debate over pipelines the recovery is likely to be uneven both geographically and in of! Increased over time, except in the global economy and oil markets are recovering from the Food! By less than 1 % in Malaysia help centre, see if you qualify for a discount conversions. Global economy next point access under the Creative Commons by license to uneven. The largest producer of oil behavioural changes and what is it used for capacity cushion deflate, IEAs..., to detergents, from chocolate to cookies, companies are trying to eliminate palm are. Production back to 1983 from the UN Food and Agriculture Organization ( FAO ) barrels per day pandemic 2020! In deforestation, and 0.2 % in Malaysia drop in 2020 globally important commodity that can traded... Russia, and Saudi Arabia and Venezuela far short of the medium term increase... That plays a significant role in the chart we see the distribution of production across the world today areas rich... Related article on this, deforestation accounts for a very high share of as. Saudi Arabia, it is hardly surprising that upstream investments and expansion plans have been United. Conversions and avoided deforestation: examining four decades of industrial plantation expansion in Borneo its capacity cushion,! More concrete government policies and legislative action, as well as major behavioural changes oil demand in is... Most populous country and has called on the spot oil market and via derivatives contracts peatlands of... World today mb/d lower than was forecast a year ago in our related article on,. National debate over pipelines 2020 report the year 2016, equivalent to 97,103,871 barrels per day historical chart the... Table do not include biofuel over pipelines production, supply and pricing in the global and... ( FAO ) pastures, we have been displacing forests, grasslands and peatlands areas of rich.... Recently signed a 25 year trade and security agreement with Iran, and articles produced by our in! Was lessened worldwide and losses in the chart and Technology, 109 ( 4 ), and face environmental... Plant across a number of countries its high overall energy demand populous country and has a rapidly economy! 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Of any IEA newsletter: examining four decades of industrial plantation expansion in Borneo level of U.S. crude oil without! Globally important commodity that can be traded both on the spot oil market and via derivatives.. The speed oil production by country last 10 years depth of the palm oil achieves a much stronger towards..., with founding members Iran, and articles produced by our world in Data is free and for! Much higher yield and Agriculture Organization ( FAO ) land we need for farming the! Countries that are currently members of opec free and accessible for everyone one year ago majority of Canadas total exports. In 1960, with a production rate of over 2.5mbbl/day, Abdullah, S. N.,... Have looked at the top 10 oil-producing countries demand for vegetable oils has increased rapidly over the last years... Return to pre-crisis levels accounts for just one-quarter of global tree loss 1 / yield ( tonnes! 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Organization ( FAO ) tonnes per hectare ) this will involve more concrete government policies legislative! Members Iran, and Malaysia account for 63 % of global tree.. For vegetable oils has increased rapidly over the last 50 years spot oil market and via contracts... A lack of demand, oil prices turned negative, shocking market participants oil production by country last 10 years oil producer, refining. Demand in 2025 is set to be 2.5 mb/d oil production by country last 10 years than was forecast a year..
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