GITNUX MARKETDATA REPORT 2024

Global Oil Industry Statistics

The global oil industry plays a critical role in the world economy, with production levels and prices significantly impacting various sectors and driving market dynamics.

Statistic 1

"In 2020, an average of 91.22 million barrels of oil were produced worldwide each day."

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Statistic 2

"The United States is the top oil-producing country in the world, with an average of 18.6 million barrels per day in 2019."

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Statistic 3

"Saudi Arabia was the second-largest oil-producing country with 11.81 million barrels per day in 2020."

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Statistic 4

"According to British Petroleum, worldwide oil consumption was approximately 98.3 million barrels per day in 2019."

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Statistic 5

"On average, the global refining capacity reached about 100.75 million barrels per day in 2020."

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Statistic 6

"Russia exported around 6.5 million barrels of crude oil per day in 2020."

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Statistic 7

"In 2020, the leading company in the petroleum sector was Saudi Aramco, with a revenue of approximately 229.7 billion U.S. dollars."

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Statistic 8

"The price of Brent crude fell to about 41.5 U.S. dollars per barrel in 2020."

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Statistic 9

"As of 2020, the global oil tanker fleet stood at 810.6 million deadweight tonnage."

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Statistic 10

"Venezuela holds the largest amount of proven oil reserves in the world, with 303.81 billion barrels as of 2020."

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Statistic 11

"Canada's oil sands hold the third-largest oil reserve in the world after Venezuela and Saudi Arabia."

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Statistic 12

"The global offshore drilling industry's size was $78.7 billion in 2019."

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Statistic 13

"The global oil industry and market is expected to increase to around $5,109 billion by 2025."

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Statistic 14

"According to BP, global oil demand growth slowed to 0.9 million barrels per day in 2019, less than half of the 10-year average."

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Statistic 15

"The United States was the largest consumer of oil worldwide in 2020, with a consumption of approximately 18.6 million barrels per day."

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Statistic 16

"In 2020, China was the second-largest consumer of oil worldwide, with a consumption of around 14 million barrels per day."

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Statistic 17

"Global demand for oil products contracted by 9.1 million barrels per day in 2020."

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Statistic 18

"In 2019, the total worldwide offshore oil production was approximately 27.7 million barrels per day."

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Statistic 19

"In 2019, 63.6% of oil of the global oil production was lighter than 35° API (Higher quality)."

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Statistic 20

"Global petroleum consumption reached an all-time high of 100.3 million barrels per day in 2019."

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