World oil supply and demand
|
2014 |
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022a |
World oil supplyb,c (millions of barrels per day) |
91.7 |
94.3 |
94.7 |
95.5 |
98.2 |
97.6 |
94.6 |
92.5 |
95.7 |
Developed economies |
20.1 |
21.4 |
21.0 |
22.0 |
24.7 |
26.5 |
25.6 |
25.8 |
27.4 |
Economies in transition |
14.0 |
14.1 |
14.3 |
14.4 |
14.7 |
15.0 |
13.5 |
13.8 |
14.9 |
Developing economies |
55.3 |
56.6 |
57.1 |
56.8 |
56.5 |
53.8 |
53.1 |
50.6 |
51.0 |
OPEC |
37.7 |
39.1 |
39.6 |
39.5 |
39.5 |
37.2 |
33.0 |
30.9 |
32.0 |
Non-OPEC |
17.6 |
17.6 |
17.5 |
17.2 |
16.9 |
16.5 |
20.1 |
19.7 |
19.0 |
Processing gainsd |
2.2 |
2.2 |
2.3 |
2.3 |
2.3 |
2.4 |
2.4 |
2.4 |
2.4 |
Global biofuelse |
2.2 |
2.3 |
2.4 |
2.4 |
2.6 |
2.8 |
2.8 |
2.8 |
3.1 |
World total demandf |
93.2 |
95.0 |
96.1 |
97.9 |
99.2 |
100.5 |
92.1 |
97.4 |
99.3 |
Oil prices (United States dollars per barrel) |
OPEC basketg |
96.3 |
49.5 |
40.8 |
52.4 |
69.8 |
64.0 |
41.5 |
69.9 |
103.4 |
Brent oil |
98.9 |
52.3 |
43.7 |
54.2 |
71.2 |
64.3 |
41.7 |
70.9 |
102.1 |
Sources: UN DESA, International Energy Agency; U.S. Energy Information Administration; and OPEC.
a Partly estimated.
b Including global biofuels, crude oil, condensates, natural gas liquids (NGLs), oil from non-conventional sources and other sources of supply. c Totals may not add up because of rounding.
d Net volumetric gains and losses in the refining process and marine transportation losses.
e Global biofuels comprise all world biofuel production including fuel ethanol from Brazil and the United States.
f 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. Includes Biofuels.
g As of January 2022: The basket price includes Iraqi Basrah Medium instead of Basrah Light.
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