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The Annual Statistical Bulletin (ASB), one of the flagship publications of the Organization of the Petroleum Exporting Countries (OPEC), provides detailed and comprehensive time series data covering all chains of the oil industry, ranging from exploration and production to refining and transportation.

The ASB is distinctive in providing comprehensive statistical data on oil and gas activities in each of the 13 OPEC 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 world's major economic zones.

The current version of the Annual Statistical Bulletin 2022 (ASB 2022) comprises data up to the end of 2021, with the following highlights:

  • After witnessing an historical drop in 2020 after the outbreak of the COVID-19 pandemic, total world crude oil production increased in 2021 by 0.52 million barrels/day (m b/d) or 0.8 per cent, as compared to 2020, for an average of 69.64m b/d. OPEC crude oil production rose year-on-year by 0.70m b/d, or 2.7 per cent, while crude production by non-OPEC countries fell slightly by 0.18m b/d, or 0.4 per cent.

  • With an average of 96.92m b/d in 2021, world oil demand rebounded from the COVID-19 pandemic to grow by 5.74m b/d y-o-y, or by 6.3 per cent. Although oil demand grew year-on-year in every region, the largest gains were recorded for OECD Americas, OECD Europe and China. Oil demand in OPEC Member Countries was bullish in 2021, gaining 5.3 per cent y-o-y. Distillates and gasoline accounted for around 55.2 per cent of 2021 world oil demand with an upward trend. Residual fuel oil requirements were about 6.6 per cent of total oil demand in 2021.
  • World refinery capacity gained by 0.28m barrels/calendar day (b/cd) to stand at 101.70m b/cd during 2021. The non-OECD region, particularly the Middle East and China, as well as Africa and India recorded refining capacity additions. Refinery capacity in the OECD declined for the third consecutive year in 2021. Globally, refinery throughput increased by 5.1 per cent to reach 81.82m b/d in 2021 amid bullish oil demand.
  • OPEC Member Countries exported an average of 19.66m b/d of crude oil in 2021, a slight decrease of about 0.04m b/d, or 0.2 per cent, compared to 2020 and remaining below pre-pandemic levels. Following the pattern seen in previous years, the bulk of crude oil from OPEC Member Countries - 14.24m b/d or 72.4 per cent - was exported to Asia. Considerable volumes of crude oil - about 3.27m b/d - were also exported to Europe in 2021, compared with 3.13m b/d recorded in 2020. OECD Americas imported 0.94m b/d of crude oil from OPEC Member Countries, which was about 0.10m b/d, or 11.5 per cent above the 2020 volumes. Exports of petroleum products from OPEC Member Countries averaged 4.03m b/d during 2021, up by around 0.551m b/d, or 15.8 per cent, compared to 2020. Imports of petroleum products by OPEC Member Countries averaged at 1.50m b/d in 2021, roughly 0.015m b/d, or 1.0 per cent, lower than in 2020.
  • World proven crude oil reserves stood at 1,545 billion barrels (bn b) at the end of 2021, roughly at 2020 levels. Proven crude oil reserves in OPEC Member Countries declined marginally to 1,242bn b at the end of 2021, following an increase during 2020. At the end of 2021, world proven natural gas reserves fell by 0.5 per cent to approximately 205.9 trillion standard cubic metres (tr s cu m). Proven natural gas reserves in OPEC Member Countries stood at 74.24tr s cu m at the end of 2021, up 0.8 per cent from the level at the end of 2020.
  • The OPEC Reference Basket averaged $69.89/b in nominal terms during 2021, up from $41.47/b in 2020, an increase of $28.42/b, or 68.5 per cent.