logo Enerdata

Crude oil production

Global crude oil output rose by less than 1% in 2021 after a 7.4% drop in 2020.

Crude oil production

Global crude oil output rose by less than 1% in 2021 after a 7.4% drop in 2020.

Breakdown by country (Mt)
Loading...
World

Trend over 1990 - 2021 - Mt

Loading...

% in total production (2021) - Mtoe

Loading...

-16.6%


Sharp drop in crude oil production in the United Kingdom.

Global crude oil output rose by less than 1% in 2021 after a 7.4% drop in 2020.

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. Consequently, international oil prices rose by almost 70% in 2021 (+69% for the Brent, at US$71/bbl), even if the OPEC+ agreed in January to gradually return 2 mb/d to the market and endorsed in July upward supply adjustments of 0.4 mb/d every month starting in August until phasing out of the 5.8 mb/d production cuts. In 2021, the US crude oil production (17% of global output) increased by 1.3%. Russia became the world’s second largest crude oil producer, surpassing Saudi Arabia’s output by around 1.5%. 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%). 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%).

Global Energy Trends - 2022 Edition

An in-depth analysis of the past year’s key figures, with projections related to the current context (post-pandemic rebound and the energy crisis due to the war in Ukraine).

Download the publication
Global Energy & CO2 Data

Need more data? 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.

Discover this service