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%). Small amounts of palm oil are grown in many countries, but the global market is dominated by only two: Indonesia and Malaysia. Stats Minimising emissions from their core operations, notably methane, is an urgent priority. We are happy to help. 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. 43% also answered Dont know, meaning that almost no one thought it was good. Energy exports to the US account for the vast majority of Canadas total energy exports. Many believe that boycotting palm oil is how we make a difference. Venezuela was way down the list, at #25 . World crude oil price vs. oil consumption. Brazils oil production fell slightly from 3,769,000 bpd in 2020 to 3,689,000 bpd in 2021. Plant Production Science, 8(3), 288-297. Peeling back the labelexploring sustainable palm oil ecolabelling and consumption in the United Kingdom. 19 million hectares might sound like a lot of land. Operations east of Suez are expected account for all the growth in refining activity to 2026 from 2019 levels. The authors of the original study make it clear that intact forest loss should not be confused with primary forest loss. In 2021, the United States, Russia, and Saudi Arabia were the three largest crude oil producers, respectively. Sustainability of liquid biofuels. Oil production crashes by 83% - Report. Producers from the Middle East are expected to provide half of the increase, largely from existing shut-in capacity. This study only looks at the Borneo region. 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. 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. The most well-known is the Roundtable on Sustainable Palm Oil (RSPO). We also provide some thoughts concerning compliance and risk mitigation in this challenging environment. Indonesia accounted for 57% of this (41 million tonnes), and Malaysia produced 27% (20 million tonnes). Environmental Research Letters, 14(5), 055003. The rise of palm oil follows the rapid increase in demand for vegetable oils more broadly. The petrochemical industry remains a pillar of growth over the forecast period. How can we use palm oil without destroying tropical forests? To have a real, permanent impact, certification needs to cover a much larger number of growers. Please do not hesitate to contact me. Get in touch with us. But, most of the research concludes that, particularly in tropical forests in Southeast Asia, palm expansion has played a significant role. In 2017 it produced 36% of our vegetable oil, but took up only 8.6% of the land. The current month is updated on an hourly basis with today's latest value. Compared with shorter-term data, the full-year figures are less prone to distortion from periodic maintenance shutdowns and other seasonal cycles. NEW! The United Arab Emirates accounts for 5.6 percent of global total reserves. 2. Pressure from consumers can filter through to growers. European Journal of Lipid Science and Technology, 109(4), 307-314. 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. Saudi Arabias oil output came in at 10,835,000 bpd in 2021. Saudi Arabia Crude Oil: Production was reported at 10,319.000 Barrel/Day th in Jan 2023 This records a decrease from the previous number of 10,475.000 Barrel/Day th for Dec 2022 Saudi Arabia Crude Oil: Production data is updated monthly, averaging 9,458.000 Barrel/Day th from Jan 2002 to Jan 2023, with 253 observations Its of course true that some crops provide co-products in the process. Measured as deliveries from refineries and primary stocks, comprises inland deliveries, international marine bunkers, refinery fuel, crude for direct burning, oil from non-conventional sources and other sources of supply. So, even if all of these countries forests were wiped out by palm oil plantations, it would still make very little difference to this metric of global intact forest loss. 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. Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article. Secondly, the 0.2% figure is based on intact forest loss. Number one on this list of the top 10 oil-producing countries is the US. 2023 Pharmaceuticals Outlook Report. A situation analysis by the IUCN Oil Palm Task Force. Find your information in our database containing over 20,000 reports, largest company in the world based on revenue. 2023 Battery Metals Outlook: Australia Edition, NEW! Oil palm is a tropical plant species. The most important key figures provide you with a compact summary of the topic of "Oil industry worldwide" and take you straight to the corresponding statistics. Effect of oil palm sustainability certification on deforestation and fire in Indonesia. 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. You have permission to use, distribute, and reproduce these in any medium, provided the source and authors are credited. 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The last frontiers of wilderness: Tracking loss of intact forest landscapes from 2000 to 2013. Our World In Data is a project of the Global Change Data Lab, a registered charity in England and Wales (Charity Number 1186433). Why has the market for palm oil and vegetable oils more broadly increased so rapidly? Production edged just above 17 million bpd in 2019, giving the US an 18% share of the entire global output. A number of oil and gas companies are already scaling up their commitments in these areas. This seems like a simple question, but is not as straightforward as we might expect. Country Last Previous; Nigeria: 1228: 1247: Angola: . Are you interested in testing our business solutions? U.S. oil production has seen significant growth since 2010. Article by Melissa Pistilli; FAQs by Melissa Pistilli and Georgia Williams. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. 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. Currently the world devotes around 322 million hectares to oilseed crops. 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. Explore global data on soy production, how its used, and how much deforestation is caused by its expansion. 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. The pandemic has forced rapid changes in behaviour: from new working-from-home models to cuts in business and leisure air travel. The volumes in the table do not include biofuel. 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. You can unsubscribe at any time by clicking the link at the bottom of any IEA newsletter. How Has COVID-19 Impacted Oil Supply and Demand? Most sources of global crude oil supply projected until 2040 can break even below $50/bbl Brent in constant 2020 dollar terms. 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. Many companies are already . As we discuss in our related article on this, deforestation accounts for just one-quarter of global tree loss. Last year, the US consumed a total of 7.22 billion barrels of petroleum products thats an average of about 19.78 million bpd. The United States. In a context of global economic recovery, with increasing COVID-19 vaccination rates and loosening pandemic-related restrictions, oil demand expanded more rapidly than supply. World Oil Consumption is at a current level of 94.09M, up from 88.75M one year ago. Therefore using this land to grow the crop is meeting other food demand at the same time. 15th in Oil Production in Nigeria Nigeria produces 1,938,542.73 barrels per day of oil (as of 2016) ranking 15th in the world. [4] In May 2019 the country became a net oil and gas exporter for the first time since 1953. This comparison is shown in the chart.12 Palm oil stands out immediately. 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 It includes crude oil, natural gas liquids (NGLs) and additives. MarketWatch provides the latest stock market, financial and business news. Oil statistics Data on UK production, trade and demand of oil by sector, including crude oil and natural gas liquids, and products including transport fuels. 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. 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