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