Oil Production Statistics


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Oil Production Statistics 2023: Facts about Oil Production outlines the context of what’s happening in the tech world.

LLCBuddy editorial team did hours of research, collected all important statistics on Oil Production, and shared those on this page. Our editorial team proofread these to make the data as accurate as possible. We believe you don’t need to check any other resources on the web for the same. You should get everything here only 🙂

Are you planning to form an LLC? Maybe for educational purposes, business research, or personal curiosity, whatever the reason is – it’s always a good idea to gather more information about tech topics like this.

How much of an impact will Oil Production Statistics have on your day-to-day? or the day-to-day of your LLC Business? How much does it matter directly or indirectly? You should get answers to all your questions here.

Please read the page carefully and don’t miss any words.

On this page, you’ll learn about the following:

Top Oil Production Statistics 2023

☰ Use “CTRL+F” to quickly find statistics. There are total 20 Oil Production Statistics on this page 🙂

Oil Production “Latest” Statistics

  • Flaring related carbon dioxide emissions increased by 2.9%, while emissions from methane and industrial processes increased by 4.6%.[1]
  • China and India accounted for over 70% of the growth in coal demand in 2021, increasing by 3.7 and 2.7 EJ, respectively.[1]
  • China remained the main driver of solar and wind capacity growth last year, accounting for about 36% and 40% of the global capacity additions, respectively.[1]
  • China surpassed Japan as the world’s largest LNG importer and accounted for close to 60% of global LNG demand growth in 2021.[1]
  • In 2021, coal consumption increased by almost 6% to 160 EJ, which is slightly higher than 2019 levels and the highest level since 2014.[1]
  • In 2021, coal continued to be the primary fuel for power production, with a proportion that rose to 36% from 35.1% in 2020.[1]
  • Electricity generation increased by 6.2% in 2021 – similar to the strong bounce back seen in 2010 in the aftermath of the financial crisis (6.4%).[1]
  • Fossil fuels accounted for 82% of primary energy use last year, down from 83% in 2019 and 85% five years ago.[1]
  • In 2021, the demand for natural gas increased globally by 5.3%, rising beyond pre epidemic 2019 levels and for the first time surpassing the 4 Tcm threshold.[1]
  • Its slowest pace of growth since 2015 other than in 2020, LNG supply increased by 5.6%, or +26 Bcm, to 516 Bcm in 2021.[1]
  • In 2021, renewable primary energy, including biofuels but excluding hydro, rose by around 5.1 EJ, or 15% more annually than in the preceding nine years and more than any other fuel.[1]
  • The United States holds 35,230,000,000 barrels of proven oil reserves as of 2016, ranking 11th in the world and accounting for about 2.1% of the world’s total oil reserves of 1,650,585,140,000 barrels.[2]
  • As of 2016, the United States generates an amount per year equal to 15.4% of its total proven reserves.[2]
  • The United States ranks 1st in the world for oil consumption, accounting for about 20.3% of the world’s total consumption of 97,103,871 barrels per day.[2]
  • Australia’s greenhouse gas emissions grew by about 1% in 2021 as a result of increased driving and travel as well as a rebound in manufacturing after the COVID-19 pandemic.[3]
  • Production of crude oil after falling by 74% in 2020, global crude oil production increased by less than 1% in 2021.[3]
  • Russia overtook Saudi Arabia as the world’s second largest producer of crude oil by almost 15%.[3]
  • South Korea wants to achieve carbon neutrality by 2050 and lower its GHG emissions by 40% from 2018 levels in 2030.[3]
  • According to the American Energy Information Administration (EIA), the US battery storage capacity more than quadrupled to 46 GW in 2021 from 14 GW in 2020 and significantly diversified out of auxiliary services.[3]
  • In 2021, emissions of greenhouse gases connected to industry increased by 52%, followed by emissions from the energy sector (36%), the disposal of waste (16%), and agriculture (9%).[3]

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How Useful is Oil Production

One of the main arguments in favor of oil production is its essential role in meeting energy demands. Oil is a versatile energy source that can be found in a wide range of products, from gasoline to plastics. It provides the energy needed for transportation, heating, and electricity generation, making it a valuable commodity that drives economies around the world. Without oil, our modern way of life would be significantly different, with limited access to essential services and goods that we often take for granted.

Furthermore, oil production also creates job opportunities and stimulates economic growth. The oil industry employs millions of people worldwide in a variety of roles, from drilling operations to refining processes. In addition, oil production can bring significant revenues to countries that rely on oil exports as a major source of income, helping to fund essential services and infrastructure development. In this sense, oil production can be seen as a valuable economic driver that supports prosperity and development in many parts of the world.

However, the benefits of oil production come with a hefty price tag. One of the most pressing concerns is the environmental impact of oil extraction and consumption. The burning of fossil fuels releases greenhouse gases into the atmosphere, contributing to global warming and climate change. In addition, oil spills and leaks can pollute waterways, damage ecosystems, and harm wildlife. The extraction of oil can also lead to habitat destruction, deforestation, and contamination of soil and water sources.

Moreover, there are also social and political issues associated with oil production. The reliance on oil as a primary energy source can lead to geopolitical tensions, as countries compete for access to limited oil reserves. This can result in conflicts, human rights abuses, and authoritarian regimes that exploit natural resources for profit. Furthermore, the volatility of oil prices can have a significant impact on global economies, leading to financial instability and fluctuations in energy costs that affect consumers and businesses alike.

In conclusion, oil production is undeniably useful in meeting energy demands, driving economic growth, and creating job opportunities. However, the environmental, social, and political consequences of oil production cannot be ignored. As we strive to transition to a more sustainable energy future, we must carefully weigh the costs and benefits of oil production and consider alternative energy sources that are more environmentally friendly and socially responsible. Ultimately, the usefulness of oil production depends on how we balance our energy needs with the long-term health of our planet and society.

Reference

  1. bp – https://www.bp.com/en/global/corporate/energy-economics/statistical-review-of-world-energy.html
  2. worldometers – https://www.worldometers.info/oil/us-oil/
  3. enerdata – https://yearbook.enerdata.net/crude-oil/world-production-statistics.html

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