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As one of the flagship publications of the Organization of the Petroleum Exporting Countries (OPEC), the Annual Statistical Bulletin (ASB) offers detailed and comprehensive time-series data on several aspects of the global petroleum industry, including production, demand, imports and exports, as well as exploration and transportation activities.

In particular, the ASB contains key statistical data on oil and natural gas activities in each of OPEC’s 13 Member Countries: Algeria, Angola, Congo, Equatorial Guinea, Gabon, the Islamic Republic of Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, the United Arab Emirates and Venezuela. In addition, it provides valuable data for many other countries grouped by geographical region, and covers the major economic zones around the world. This year’s edition of the ASB comprises data up to the end of 2019, with the following highlights:

  • Total world crude oil production declined in 2019 by 0.56 million barrels/day (mb/d), or 0.7 percent, as compared to 2018, to average 75.26 mb/d, following a historical high during 2018. OPEC crude oil production declined sharply year-on-year by 1.86 mb/d, or 6.0 percent, while crude production by non-OPEC countries grew by 1.30 mb/d, or 2.9 percent. In 2019, the top three crude oil producing countries were the United States (12.23 mb/d), Russia (10.63 mb/d) and Saudi Arabia (9.81 mb/d).
  • With an average of 99.67 mb/d in 2019, world oil demand grew by 0.9 percent y-o-y, with the largest increases recorded for the Asia and Pacific region (particularly China and India), Africa and the Middle East. Following four consecutive years of growth, OECD oil demand fell slightly in 2019, while oil demand in OPEC Member Countries returned to growth in 2019 after declining slightly during 2018. Distillates and gasoline accounted for around 55.0 percent of 2019 world oil demand with an upward trend. Residual fuel oil requirements were about 7.0 percent of total oil demand in 2019.
  • OPEC Member Countries exported an average of 22.48 mb/d of crude oil in 2019, a sharp decrease of about 1.80 mb/d, or 7.4 percent, compared to 2018. Following the pattern of previous years, the bulk of crude oil from OPEC Member Countries — 15.73 mb/d or 70.0 percent — was exported to the Asia and Pacific region. Considerable volumes of crude oil — about 4.01 mb/d — were also exported to Europe in 2019, which represents a decline compared with 4.57 mb/d recorded in 2018. North America imported 1.22 mb/d of crude oil from OPEC Member Countries, which was about 1.41 mb/d, or 53.6 percent, less than the 2018 volumes. Exports of petroleum products from OPEC Member Countries averaged 3.88 mb/d during 2019, down by around 0.78 mb/d, or 16.8 percent, compared to 2018. Imports of petroleum products by OPEC Member Countries averaged 1.68 mb/d in 2019, roughly 0.74 mb/d, or 30.5 percent, lower than in 2018.
  • World proven crude oil reserves stood at 1,551 billion barrels (bn b) at the end of 2019, increasing by 3.6 percent from the level of 1,497 bn b recorded at the end of 2018. Proven crude oil reserves in OPEC Member Countries increased by 3.7 percent to 1,227 bn b at the end of 2019, following a slight decline during 2018. At the end of 2019, world proven natural gas reserves rose by 1.6 percent to approximately 206.2 trillion standard cubic metres (tr s cu m). Proven natural gas reserves in OPEC Member Countries stood at 73.14 tr s cu m at the end of 2019, up 0.6 percent from the level at the end of 2018.
  • World refinery capacity expanded by 1.41 million barrels/calendar day (mb/cd) to stand at 100.98 mb/cd during 2019. The Asia and Pacific region, particularly China, as well as Western Europe and the Middle East, contributed the most in terms of refining capacity additions. Refinery capacity in the OECD increased in 2019, as compared to 2018, because of capacity expansions in North America and Europe. Globally, refinery throughput rose by 0.5 percent to reach 85.78 mb/d in 2019, with gains in the Asia and Pacific region, being partly offset by declines in Latin America, Europe, the Middle East and Africa.
  • The OPEC Reference Basket averaged $64.04/b in nominal terms during 2019, down from $69.78/b in 2018, a decrease of $5.74/b, or 8.2 percent. The volatility level was $4.11/b, or 6.4 percent, relative to the yearly average.