Global energy production is slowing down, rising by 1.4% in 2023 (below its 2010-2019 average growth of 1.7%/year), despite higher production in the US, China and India.

Global energy production slowed down in 2023 (+1.4%), below its 2010-2019 average (+1.7%/year). The growth was driven by the United States (+4.4%), China (+2.5%), India (+6.8%), Indonesia (+10%), Brazil (+8.2%) and Iran (+5%), and partly offset by a drop in Saudi Arabia (-7.8%), Russia (-3%), Europe (-3.2%) and Australia (-2.7%).

Key 2023 data for energy production are as follows:

• Crude oil: +1%, driven by the US (+8.5%), Brazil (+12%) and Iran (+10%), offsetting OPEC+ production cuts (-9.3% in Saudi Arabia and -1.5% in Russia).
• Gas: stable globally (+0.7%), as the steady growth in gas production in the US (+4.7%) was offset by a 5.5% drop in Russia due to lower exports to the European Union.
• Coal: +2.2%, with growth in China (+3.3%), India (+11%) and Indonesia (+13%), despite a 22% fall in Europe and a 2.1% drop in the US.
• Electricity: +2.6%, with growth pulled by China and India (+6.9% each), despite a 3.6% drop in Europe.