Tuesday, August 22, 2023

Global Fossil Fuel Production And Consumption -- 2022 Statistical Report

Locator: 45452OIL.

Updates

August 23, 2023: global oil consumption nears all-time highs. Robert Rapier over at oilprice.

Original Post

Is anyone doing the math? This has been going on for quite some time. Link here.

  • global oil production (liquids to include lease condensate and NGLs)
    • 2022: 93.8 billion bpd (just sort of the 2019 record)
    • 2021: 90 million bopd
    • 2019: 94.8 million bod (all-time high)
  • global oil consumption:
    • 2022: 97.3 million bpd
    • 2021: 94.2 million bpd
    • 2019: ~ 99.8 million bpd (all-time high)
  • Global producers:
    • oil production: US took the lead in 2014 and has led every year since then but one
    • 2022: US oil production just 3.5% short of all-time record set in 2019; 
      • on pace to set new production record this year [despite E&Ps cutting back on CAPEX and drilling]
      • the US enjoys a lead over both Saudi Arabia and Russia but not be much, only a million bpd
    • but when you include NGLs, then the spread is amazing
      • 2022:
        • US: 17.8 million bpd
        • Saudi Arabia: 12.2 million bpd
        • Russia: 11.2 million bpd
  • Global top ten consumers:
    • Germany dropped out of the top-10 list
    • Mexico joined the list at #10

2 comments:

  1. So is the production/consumption difference akin to the US fisc?

    ReplyDelete

Note: Only a member of this blog may post a comment.