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Barrels per calendar day (b/cd): the total number of barrels processed in a refinery within 24 hours, reflecting all operational limitations (eg routine inspections, maintenance, repairs etc).

Barrels per stream day (b/sd): the number of barrels of input that a refining facility can process within 24 hours, operating at full capacity under optimal crude and product slate conditions.

Biofuels: transportation fuels derived from biomass, including fuel ethanol and biodiesel, whereby these fuels are usually blended with petroleum fuels. Ethanol is an alcohol made by fermenting starch or sugar, notably from (corn) grains and sugar cane. Biodiesel is made primarily from vegetable oils (e.g. palm oil, soybean oil) or from other oily sources (such as waste cooking grease).

Completion: the installation of permanent equipment for the production of oil or gas.

Composite barrel: a consumption weighted average of retail prices (including taxes) of the main groups of petroleum products.

Crude oil: a mixture of hydrocarbons that exists in a liquid phase in natural underground reservoirs and remains liquid at atmospheric pressure after passing through surface separating facilities. For statistical purposes, volumes reported as crude oil include:

1. liquids technically defined as crude oil

2. small amounts of hydrocarbons that exist in the gaseous phase in natural underground reservoirs, but which are liquid at atmospheric pressure after being recovered from oil well (casing head) gas in lease separators

3. small amounts of non-hydrocarbons produced with the oil

4. very heavy and extra-heavy crude oils with viscosity less than 10,000 mPa.s (centipoises) at original reservoir conditions.

Distillates: middle distillate type of hydrocarbons; includes products similar to number one and number two heating oils and diesel fuels. These products are used for space heating, diesel engine fuel and electrical power generation.

Dry hole: a well found to be incapable of producing either oil or gas in sufficient quantities to justify completion as an oil or gas well.

Exports of petroleum products: excludes international air and marine bunkers.

Gasoline: a mixture of relatively volatile hydrocarbons, with or without small quantities of additives, that have been blended to form a fuel suitable for use in internal combustion engines; includes gasoline used in aviation.

Geneva I agreement: agreement of January 1972 between some OPEC Member Countries and the major international oil companies, which had the effect of establishing an index for quarterly adjustments of posted crude oil prices on the basis of the arithmetic average of the deviations of the exchange rates of nine major currencies against the US dollar. This was modified to an import-weighted index in 1978, accounting for exchange rates and inflation rate. The present ‘modified Geneva I + US dollar’ currency basket includes the US dollar, the Euro, the Japanese yen, the UK pound and the Swiss franc.

Kerosene: medium hydrocarbon distillates in the 150° to 280° C distillation range and used as a heating fuel as well as for certain types of internal combustion engines; includes jet fuel, which is a fuel of naphtha or of kerosene type, suitable for commercial or military purposes in aircraft turbine engines.

Natural gas liquids (NGLs): those reservoir gases liquefied at the surface in lease separators, field facilities or gas processing plants. NGLs consist of field condensates and natural gas plant products such as ethane, pentane, propane, butane and natural gasoline.

Natural gas: a mixture of hydrocarbon compounds and small quantities of various non-hydrocarbons existing in the gaseous phase or in solution with oil in natural underground reservoirs at reservoir conditions. The natural gas volumes refer to Standard Conditions of 60° F, 14.73 psia (15.6° C, 760 mm/Hg).

Gross production: the total flow of natural gas from oil and gas reservoirs of associated-dissolved and non-associated gas.

Marketed production: corresponds to gross production, minus the volumes of gas flared or re-injected into fields, minus the shrinkage.

Re-injection: the total volume of natural gas produced from oil and gas completions, processed through gas-processing plants and field facilities, and used for gas lift, gas injection and cycling operations.

Shrinkage: volume shrinkage due to purification and/or extraction of natural gas liquids, gas used as input to GTL plants, lease separators, plant own consumption and any other losses caused by spillage, evaporation, etc.

Non-conventional oil: includes synthetic crude oil from tar sands, oil shale, etc., liquids derived from coal liquefaction(CTL) and gas liquefaction (GTL), hydrogen and emulsified oils (e.g. Orimulsion), non-hydrocarbon compounds added to or blended with a product to modify fuel properties (octane, cetane, cold properties, etc.) e.g. alcohols (methanol, ethanol), ethers (such as MTBE (methyl tertiary butyl ether), ETBE (ethyl tertiary butyl ether), TAME (tertiary amyl methyl ether) or esters (e.g. rapeseed or dimethylester, etc.) and chemical compounds such as TML (tetramethyl lead) or TEL (tetraethyl lead) and detergents.

Oil demand: inland delivery, including refinery fuels and losses, as well as products from gas plants; including international air and marine bunkers as well as direct crude burning.

Oil or gas well: a well completed for the production of oil or gas from one or more zones or reservoirs.

Oil supply: consists of crude oil natural gas liquids and non-conventional oil production.

OPEC Basket: the OPEC Reference Basket (ORB) price was introduced on January 1, 1987. Up to June 15, 2005, it was the arithmetic average of seven selected crudes. These were: Saharan Blend (Algeria); Minas (Indonesia); Bonny Light (Nigeria); Arab Light (Saudi Arabia); Dubai (United Arab Emirates); Tia Juana Light (Venezuela); and Isthmus (Mexico). Mexico is not a Member of OPEC. As of June 16, 2005, the ORB is calculated as a production-weighted average of the OPEC Basket of crudes. These are: Saharan Blend (Algeria); Girassol (Angola, as of January 2007); Djeno (Congo, as of June 2018), Oriente (Ecuador, as of October 19, 2007); Zafiro (Equatorial Guinea, as of 25 May, 2017); Rabi Light (Gabon, as of July 1, 2016), Iran Heavy (IR Iran); Basrah Light (Iraq); Kuwait Export (Kuwait); Es Sider (Libya); Bonny Light (Nigeria); Qatar Marine (Qatar); Arab Light (Saudi Arabia); Murban (United Arab Emirates); and Merey (Venezuela).

Output of petroleum products: the total amount of petroleum products produced from refinery input in a given period, excluding refinery fuels.

Petroleum products: products obtained from the processing of crude oil, unfinished oils, NGLs and other hydrocarbon compounds. These include aviation gasoline, motor gasoline, naphtha, kerosene, jet fuel, distillate fuel oil, residual fuel oil, liquefied petroleum gas, lubricants, paraffin wax, petroleum coke, asphalt and other products.

Proven crude oil reserves: the estimated quantities of all liquids statistically defined as crude oil. They consist of those quantities of crude oil which by analysis of geoscience and engineering data can be estimated with reasonable certainty to be commercially recoverable, from a given date forward, from known reservoirs and under defined economic conditions, operating methods and government regulations (source: SPE — Petroleum Resources Management System).

Proven natural gas reserves: are the estimated quantities of all hydrocarbons statistically defined as natural gas. They consist of those quantities of natural gas (associated and non-associated) which by analysis of geoscience and engineering data can be estimated with reasonable certainty to be commercially recoverable, from a given date forward, from known reservoirs and under defined economic conditions, operation methods and government regulations (source: SPE — Petroleum Resources Management System).

Refinery capacity (charge): the input (feed) capacity of the refinery processing facilities.

Refinery capacity (operable): the maximum amount of input to atmospheric distillation units that can be processed in an average 24-hour period.

Refinery throughput: Oil input to atmospheric distillation unit.

Residual fuel oil: fuels obtained as liquid still bottoms from the distillation of crude used alone or in blends with heavy liquids from other refinery process operations. These are used for the generation of electric power, space heating, vessel bunkering and various industrial purposes.

Rig: a derrick complete with engine-house and other equipment necessary for drilling oil and gas wells.

Well (exploratory and development): a hole drilled for the purpose of finding or producing crude oil or natural gas, or providing services related to the production of crude oil and natural gas.

(OPEC Member Countries are shown in bold.)

North America: Canada, Greenland, St Pierre and Miquelon, United States.

Latin America: Antigua, Argentina, Bahamas, Barbados, Belize, Bermuda, Bolivia, Brazil, British Virgin Islands, Cayman Islands, Chile, Colombia, Costa Rica, Cuba, Dominica, Dominican Republic, Ecuador, El Salvador, French Guiana, Grenada, Guadeloupe, Guatemala, Guyana, Haiti, Honduras, Jamaica, Martinique, Mexico, Montserrat, Nicaragua, Panama (including Panama Canal Zone), Paraguay, Peru, Puerto Rico, St Kitts-Nevis-Anguilla, St Lucia, St Vincent, Suriname, Trinidad & Tobago, Turks and Caicos Islands, United States Virgin Islands, Uruguay, Venezuela and Other Latin America.

Eastern Europe and Eurasia: Albania, Armenia, Azerbaijan, Belarus, Bulgaria, Czech Republic, Estonia, Georgia Hungary, Kazakhstan, Kyrgyzstan, Latvia, Lithuania, Moldova, Poland, Romania, Russia, Slovakia, Tajikistan, Turkmenistan, Ukraine and Uzbekistan.

Western Europe: Austria, Belgium, Bosnia and Herzegovina, Cyprus, Croatia, Denmark (including Faroe Islands), Finland, France (including Andorra and Monaco), Germany, Gibraltar, Greece, Iceland, Ireland, Italy (including San Marino and the Holy See), Luxembourg, Malta, Montenegro, Netherlands, Norway (including Svalbard and Jan Mayen Islands), Portugal, Serbia, Slovenia, Spain (including Canary Islands), Sweden, Switzerland (including Liechtenstein), Republic of North Macedonia, Turkey, United Kingdom and Other Western Europe.

Middle East: Bahrain, Islamic Republic of Iran, Iraq, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, Syrian Arab Republic, United Arab Emirates (UAE) (Abu Dhabi, Ajman, Dubai, Fujairah, Ras al-Khaimah, Sharjah, Umm al-Qaiwain), Yemen and Other Middle East.

Africa: Algeria, Angola, Benin, Botswana, British Indian Ocean Territory, Burkina Faso, Burundi, Cameroon (United Republic of), Cape Verde, Central African Republic, Chad, Comoros, Congo, Congo (Democratic Republic of the), Djibouti, Egypt, Equatorial Guinea, Eritrea, Eswatini, Ethiopia, Gabon, Gambia (The), Ghana, Guinea, Guinea-Bissau, Côte d’Ivoire, Kenya, Lesotho, Liberia, Libya, Madagascar, Malawi, Mali, Mauritania, Mauritius, Morocco, Mozambique, Namibia, Niger, Nigeria, Reunion, Rwanda, St Helena, São Tomé and Príncipe, Senegal, Seychelles, Sierra Leone, Somalia, South Africa, Sudans (including South Sudan and Sudan), Tanzania, Togo, Tunisia, Uganda, Western Sahara, Zambia and Zimbabwe.

Asia and Pacific: Afghanistan, American Samoa, Antarctica, Australia, Bangladesh, Bhutan, Brunei, Cambodia, Canton and Enderbury Islands, People’s Republic of China, China Hong Kong Special Administrative Regions (SAR), China Macau SAR, Christmas Island, Cocos (Keeling) Islands, Cook Islands, Fiji, French Polynesia, Guam, India, Indonesia, Japan, Johnston Island, Kiribati, Korea (Democratic People’s Republic of), Korea (Republic of), Lao People’s Democratic Republic, Malaysia, Maldives, Midway Islands, Mongolia, Myanmar, Nauru, Nepal, New Caledonia, New Zealand, Niue, Norfolk Island, Pacific Islands (Trust Territory), Pakistan, Papua New Guinea, Philippines, Pitcairn Island, Samoa, Singapore, Solomon Islands, Sri Lanka, Thailand, Tokelau, Tonga, Tuvalu, Vanuatu, Vietnam, Wake Island, Wallis, Futuna Islands and Other Asia and Pacific.

Organization of the Petroleum Exporting Countries (OPEC): Algeria (1969), Angola (2007), Congo (2018), Equatorial Guinea (2017), Gabon (rejoined OPEC in 2016), the Islamic Republic of Iran (1960), Iraq (1960), Kuwait (1960), Libya (1962), Nigeria (1971), Saudi Arabia (1960), United Arab Emirates (1967), Venezuela (1960).

Organization for Economic Co-operation and Development (OECD): Australia, Austria, Belgium, Canada, Chile, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Japan, Korea, Latvia, Lithuania, Luxemburg, Mexico, Netherlands, New Zealand, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turkey, United Kingdom, United States and Other OECD.

Former Soviet Union (FSU): Armenia, Azerbaijan, Belarus, Estonia, Georgia, Kazakhstan, Kyrgyzstan, Latvia, Lithuania, Moldova, Russia, Tajikistan, Turkmenistan, Ukraine and Uzbekistan.

na Not available / not applicable

- Zero, nil or negligible



$ US dollar

€ Euro

DZD Algerian dinar

AOA Angolan new kwanza

XAF Central African Franc (Congo, Gabon and Equatorial Guinea)

IRR Iranian rial

IQD Iraqi dinar

KWD Kuwaiti dinar

LYD Libyan dinar

NGN Nigerian naira

SAR Saudi Arabian riyal

AED United Arab Emirates dirham

VES Venezuelan bolívar soberano



b barrel(s)

b/d barrels per day

b/cd barrels per calendar day

b/sd barrels per stream day

b/yr barrels per year

bn billion

bn b billion barrels

cif cost, insurance and freight

cu m cubic metres

dwt deadweight tonnage

fob free on board

ft feet

GDP gross domestic product

GTL Gas to liquid

LNG liquefied natural gas

LPG liquefied petroleum gas

m b million barrels

NCV net calorific value

NCF non-conventional

NOC national oil company

NGLs natural gas liquids

t tonne

Rounding: In all tables totals may not add up due to independent rounding.

Balance of import-export tables may not match due to independent assessments and usage of various secondary sources.

ADCO Abu Dhabi Company for Onshore Oil Operations

ADMA Abu Dhabi Marine Areas

ADMA-OPCO Abu Dhabi Marine Operating Company

ADNOC Abu Dhabi National Oil Company

ADOC Abu Dhabi Oil Company

Agip SpA

Agoco Arabian Gulf Oil Company (SP Libyan AJ)

Amerada Hess Amerada Hess Corporation

AOC Arabian Oil Company

Aquitaine Societe Nationale des Petroles d’Aquitaine

Aramco Saudi Arabian Oil Company (Saudi Aramco)

Arco Atlantic Richfield Company

Asamera Oil

Ashland Oil

BP plc

Braspetro Petrobras Internacional SA

Brega Petroleum Marketing Company

Buttes Gas & Oil Company

Calasiatic Petroleum Company

Caltex (PT) Caltex Pacific Indonesia

ChevronTexaco Corporation

Conoco Continental Oil Company

Corpoven SA

DPC Dubai Petroleum Company

EGPC Egyptian General Petroleum Corporation

ExxonMobil Corporation

GASCO Abu Dhabi Onshore Gas Company

Getty Oil Corporation

GOC Gabon Oil Company

Gulf Oil Corporation

Hispanoil Hispanica de Petroleos SA

INOC Iraq National Oil Company

Inpex Indonesia Petroleum Ltd

JORC Jeddah Oil Refinery Company

KRPC Kaduna Refinery & Petrochemical Company

KNPC Kuwait National Petroleum Company KSC

KOC Kuwait Oil Company KSC

Lagoven SA

Maraven SA

Maxus Energy Corporation

Mobil Oil Corporation

NIGC National Iranian Gas Company

NIOC National Iranian Oil Company

NNPC Nigerian National Petroleum Corporation

NOC National Oil Corporation (Libya)

NODCO National Oil Distribution Company (Qatar)

NPHR New Port Harcourt Refinery

Oasis Oil Company of the Libya

Occidental Petroleum Corporation

OMV Aktiengesellschaft

PDVSA Petroleos de Venezuela SA


Pertamina Perusahaan Pertambangan Minyak Dan Gas Bumi Negara

Petroecuador National Oil Company of Ecuador

Petroindustrial Refinery operations company of Ecuador

Petromer Trend Petromer Trend Corporation

Petromin the General Petroleum and Mineral Organization of Saudi Arabia

Petroproduccion Exploration and production oil company of Ecuador

Phillips Petroleum Company

PPMC Pipeline and Products Marketing Company (Nigeria)

QGPC Qatar General Petroleum Corporation (now Qatar Petroleum)

Royal Dutch/Shell Royal Dutch Petroleum Company, The Netherlands, and Shell Transport and Trading Co, UK

Société Nationale des Pétroles du Congo (SNPC)

Sonangol Sociedade Nacional de Combustíveis de Angola

Sonatrach Entreprise Nationale Sonatrach

Stancal Standard Oil Company of California

PT Stanvac Indonesia

Tenneco Incorporated

Tesoro Indonesia Petroleum Corporation

Topco Texas Overseas Petroleum Company


Union Oil Union Oil Company of California

VOO Veba Oil Operations (Libya)

Waha Oil Company (Libya)

Wintershall AG

WRPC Warri Refinery & Petrochemical Company

Zadco Zakum Development Company

ZOC Zueitina Oil Company (Libya)

Direct communications to the OPEC Secretariat

American Petroleum Institute (API)

Arab Oil & Gas

Asia Pacific Economic Cooperation (APEC)

Baker Hughes


BP Statistical Review of World Energy

Brazil: Ministry of Mines and Energy

Brazil: National Agency of Petroleum, Natural Gas and Biofuels

Business Monitor International

Cambridge Energy Research Associates

Canadian Association of Petroleum Producers

Canada: National Energy Board

Canadian Energy Research Institute

Cedigaz, Natural Gas in the World

Centre for Global Energy Studies

China: National Bureau of Statistics

China: National Petroleum Corporation

Central Bank reports

Clarkson Research Studies: The Liquid Gas Carrier Register

De Golyer & MacNaughton: Twentieth Century Petroleum Statistics

Eastern Bloc Research, CIS and East European Energy Databook

Economist Intelligence Unit (EIU): country reports and database

Energy Detente

Energy Information Administration, US Department of Energy


Fearnleys, Annual Review

Financial Times: Oil and Gas International Yearbook

Galbraith’s Weekly Tanker Fixtures Report

Gas Exporting Countries Forum (GECF)

Haver Analytics

IHS Global Insight

IHS Cambridge Energy Research Associates (HIS CERA)

India: Ministry of Petroleum & Natural Gas

Institute Français du Petrole (IFP): The World Gas Industry

Institute of Energy Economics, Japan (IEEJ)

International Energy Agency (IEA): Energy Prices and Taxes; Energy Statistics and Balances; Monthly Oil/Gas Data Services

IEA Monthly Oil Data Service (MODS)

International Monetary Fund (IMF): International Financial Statistics, World Economic Outlook Database, Direction of Trade Statistics

Japan: Ministry of Economy, Trade and Industry

Joint Organizations Data Initiative


Middle East Economic Survey

National Energy Administration of the People’s Republic of China (NEA)

National and international oil companies’ reports

National statistical publications

National Westminster Bank

Norway: Ministry of Petroleum and Energy


OECD: Trade by Commodities

OECD/IEA: Energy Balances of non-OECD countries

OECD/IEA: Energy Balances of OECD countries

OECD/IEA: Energy Statistics of non-OECD countries

OECD/IEA: Energy Statistics of OECD countries

OECD/IEA: Quarterly Energy Prices and Taxes

OECD: International Trade by Commodities Statistics

Oil & Gas Journal

Oil and Energy Trends: Annual Statistical Review

Oil Bulletin Petrolier

Organización Latinoamericana de Energia (OLADE)

Organization of Arab Petroleum Exporting Countries (OAPEC)


Petroleum Argus

Petroleum Economist

Petroleum Intelligence Weeky (PIW)





Port of Fujairah

Port of Rotterdam


Rystad Energy

Secretariat’s estimates

Simpson Spence & Young: World Oil Tanker Trends

Society of Petroleum Engineers (SPE): Petroleum Resources Management System

United Nations: Energy Statistics Yearbook; Monthly Bulletin of Statistics

United Nations: National Account Statistics

Wood Mackenzie

World Bank: World Development Indicators

World LPG Gas Association

World Oil

World Petroleum Trends

Crude oil

Standard factors

Metric tonne

Long ton


Cubic metres   (kilolitres)

Metric tonne





Long ton










Cubic metres (kilolitres)





By country (b/tonne)

Algeria 8.052
Angola 7.370
Congo 7.113
Equatorial Guinea 7.192
Gabon 7.442
IR Iran 7.382
Iraq 7.379
Kuwait 7.276
Libya 7.570
Nigeria 7.368
Saudi Arabia 7.323
United Arab Emirates  7.565
Venezuela  6.656
OPEC  7.372

Petroleum products (b/tonne)

Gasoline 8.4998
Kerosene 7.7652
Distillates 7.2296
Residuals 6.6208