General notes

Barrels per calendar day (b/cd):

the total number of barrels processed in a refinery within 24 hours, reflecting all operational limitations, e.g. 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.


transportation fuels derived from biomass include 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 (eg palm oil, soybean oil) or from other oily sources (such as waste cooking grease).


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.


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.


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.


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 and 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 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); Ess 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.


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.

  • 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), Former Yugoslav Republic of 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, 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, 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), Ecuador (reactivated membership in 2007), 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, 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.
  • Symbols:
  • na Not available
    nap Not applicable
    - Zero, nil or negligible
  • Currencies:
  • $ US dollar
    DZD Algerian dinar
    AOA Angolan new kwanza
    $ Ecuador
    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 Bolívar soberano
  • Miscellaneous:
  • 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 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 liquids
    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.
  • Selected oil companies:
  • 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 Agip SpA
    Agoco Arabian Gulf Oil Company (Libya)
    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 Asamera Oil
    Ashland Ashland Oil
    BP BP plc
    Braspetro Petrobras Internacional SA
    Brega Marketing Brega Petroleum Marketing Company
    Buttes Buttes Gas & Oil Company
    Calasiatic Calasiatic Petroleum Company Caltex (PT)
    Caltex (PT) PT Caltex Pacific Indonesia
    ChevronTexaco ChevronTexaco Corporation
    Conoco Continental Oil Company
    Corpoven Corpoven SA
    DPC Dubai Petroleum Company
    EGPC Egyptian General Petroleum Corporation
    ExxonMobil ExxonMobil Corporation
    GASCO Abu Dhabi Onshore Gas Company
    Getty Getty Oil Corporation
    GOC Gabon Oil Company
    Gulf 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 Lagoven SA
    Maraven Maraven SA
    Maxus Maxus Energy Corporation
    Mobil 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 Oasis Oil Company of the Libya, Inc
    Occidental Occidental Petroleum Corporation
    OMV OMV Aktiengesellschaft
    PDVSA Petroleos de Venezuela SA
    Perenco Perenco
    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 General Petroleum and Mineral Organization of Saudi Arabia
    Petroproduccion Exploration and production oil company of Ecuador
    Phillips 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
    SNPC Societe Nationale des Petroles du Congo (SNPC)
    Sonangol Sociedade Nacional de Combustíveis de Angola
    Sonatrach Société Nationale de Transport et de Commercialisation des Hydrocarbures
    Stancal Standard Oil Company of California
    PT Stanvac PT Stanvac Indonesia
    Tenneco Tenneco Incorporated
    Tesoro Tesoro Indonesia Petroleum Corporation
    Topco Texas Overseas Petroleum Company Total
    Total Total
    Union Oil Union Oil Company of California
    VOO Veba Oil Operations (Libya)
    Waha Oil Waha Oil Company (Libya)
    Wintershall Wintershall AG
    WRPC Warri Refinery & Petrochemical Company
    Zadco Zakum Development Company
    ZOC Zueitina Oil Company (Libya)

    Go back to top

  • Major Sources:
  • 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
    Economic 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 Barrels Cubic metres (kilolitres)
    Metric tonne 1 0.984 7.33 1.165
    Long ton 1.016 1 7.45 1.128
    Barrels 0.136 0.134 1 0.159
    Cubic metres (kilolitres) 0.858 0.887 6.289 1
  • By Country (b/tonne)
    • Algeria 8.05153
      Angola 7.12980
      Congo 7.11264
      Ecuador 6.90632
      Equatorial Guinea 7.18425
      Gabon 7.60013
      IR Iran 7.38161
      Iraq 7.37905
      Kuwait 7.27604
      Libya 7.57006
      Nigeria 7.36997
      Saudi Arabia 7.32271
      United Arab Emirates 7.56491
      Venezuela 6.68816
      OPEC 7.34497
    Go back to top
  • Petroleum products (b/tonne)
  • Gasoline 8.4998
    Kerosene 7.7652
    Distillates 7.2296
    Residuals 6.6208