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Page added on August 5, 2021

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The U.S. Remained The World’s Top Oil Producer In 2020

Production

Earlier this month BP released its . The Review provides a comprehensive picture of supply and demand for major energy sources on a country-level basis. Each year, I do a series of articles covering the Review’s findings.

In the , I discussed the trends in global carbon dioxide emissions. Today, I want to cover the production and consumption of petroleum.

A Record Decline in Oil Demand

For 2020, the Review reported the largest decline in oil1 consumption on record. After nine consecutive years of increase, the Covid-19 pandemic caused global consumption of crude oil to decline by more than 9 million barrels per day (BPD) in 2020 to 88.5 million BPD.

The United States remains the world’s top oil consumer, averaging 17.2 million BPD in 2020. China was second at 14.2 million BPD, and was the only country in the Top 10 to report an increase in oil consumption in 2020.

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The Top 10 consumers were the same countries as in 2019, except Saudi Arabia jumped ahead of Japan, and Brazil jumped past Canada. “Change” reflects the change in consumption from 2019.

U.S. Remains the Oil Production Champion

Despite the impact the pandemic had on U.S. oil production, the U.S. remained the world’s top oil producer at 11.3 million BPD.2 Russia and Saudi Arabia retained their positions at #2 and #3. However, Saudi Arabia and other OPEC countries engaged in production cuts in 2020 in response to the pandemic.

Note that these production numbers are for crude oil and lease condensate. The U.S. also leads all countries in the production of natural gas liquids (NGLs), which partially end up in the oil products supply chain. So, if NGLs are included, the U.S. has an even larger lead over Russia and Saudi Arabia.

The Review reports that global proved oil reserves declined by 0.1% to 1.72 trillion barrels. Venezuela continues to claim the most reserves with 304 billion barrels, but this is primarily extra heavy crude in the Orinoco Belt. In order to qualify as proved reserves, oil needs to be technically and economically recoverable at prevailing oil prices. That may not be the case with this heavy oil. In that case, Saudi Arabia’s 298 billion barrels would lead all countries.

Footnotes

1. BP’s definition of oil consumption excludes biofuels while derivatives of coal and natural gas are included.

2. Includes crude oil, shale/tight oil, oil sands, lease condensate or gas condensates that require further refining. Excludes liquid fuels from other sources such as biomass and synthetic derivatives of coal and natural gas.

Robert Rapier, Forbes



9 Comments on "The U.S. Remained The World’s Top Oil Producer In 2020"

  1. elite whitey (((supertard))) said Weve had such terrible loss of life maybe the smartest thing to do is pull it They made that decision to pull and we watched the building collapse on Thu, 5th Aug 2021 8:21 pm 

    what does elite whitey (((supertard))) mean

    plese explain in low english

    failure to discuss 911 gave us the convid of 3/2020 and ongoing

    please feel at ease among friends, we’re all lovers of supremacist muzzies here

  2. there are only two holidays in america one is 911 and the other is muzzie bag day feb1st there is no (((supremetard))) birthday no mo on Thu, 5th Aug 2021 8:29 pm 

    9/11 is coming up

    elite whitey supertard prof. steven jones found elemental composition of thermate which is not destroyed in chemical reactions

    please feel at ease among friends, we’re all lovers of supremacist muzzies here

  3. Duncan Idaho on Fri, 6th Aug 2021 5:18 pm 

    Texas Republican who promoted mask burning dies of COVID-19

    While he was fat and a repug (Texas norm), being stupid didn’t help,
    https://www.dailykos.com/stories/2021/8/6/2044213/-Texas-Republican-who-promoted-mask-burning-dies-of-COVID-19

  4. Duncan Idaho on Fri, 6th Aug 2021 8:59 pm 

    “Unless we can tame our irrational economic system and, above all else, do away with capitalism’s addiction to fossil fuels, the collapse of civilized social order is a near certainty.”

  5. Duncan Idaho on Sat, 7th Aug 2021 12:38 pm 

    Right Wing Radio Host, Anti-Vaxxer, and Trump Supporter Dick Ferrell Dies From COVID-19.

    Getting rid of the stupid and genetically inferior.

    We have a ways to go.

    https://www.dailykos.com/stories/2021/8/7/2044386/-Right-Wing-Radio-Host-Anti-Vaxxer-and-Trump-Supporter-Dick-Ferrell-Dies-From-COVID-19

  6. Biden's hairplug on Sat, 7th Aug 2021 2:44 pm 

    9/11 is coming up

    elite whitey supertard prof. steven jones found elemental composition of thermate which is not destroyed in chemical reactions

    9/11 is 20 years ago and the deep state planners of that exercise got away with it, thanks to the great majority of the US population, that refuses to ask questions, even if they (50%) sense that something is rotten to the core:

    https://www.livescience.com/56479-americans-believe-conspiracy-theories.html

    Imagine this: not a single trial in an independent court to establish what happened. 3000 civilians murdered on purpose, in order to create the pretext to invade Afghanistan and Iraq, an exercise that ended in total failure last month.

    Consider the American Era over.

    This smart CFR jew already knew that, 20 years ago:

    https://www.amazon.com/End-American-Era-Geopolitics-Twenty-first/dp/0375412158

    “The End of the American Era: U.S. Foreign Policy and the Geopolitics of the Twenty-first Century”

    He also knew that Europe would take over from America:

    In a work of remarkable scope, Charles A. Kupchan exposes the flaws in this conventional wisdom, revealing that the close of the Cold War heralded not America’s final victory but the beginning of the demise of its global dominance. He contends that the next challenge to America is fast emerging. It comes not from the Islamic world or from an ascendant China, but from an integrating Europe, whose economy already rivals America’s. As the European Union seeks influence commensurate with its economic status, it will inevitably rise as a counterweight to the United States. America and Europe are parting ways, the discord extending well beyond the realm of trade. Decades of strategic partnership are giving way to renewed geopolitical competition

    (Although he underestimated the meteoric rise of China over the last 20 years sine he wrote his book)

    And the single most important reason why Europe eventually will eclipse the United States is because of its renewable energy policy. Only if some James Watt 2.0 gets fusion to work, the EU head start in all things renewable energy will guarantee its future geopolitical dominance.

    What Kupchan also didn’t foresee was the potential for an EU-Russian rapprochement. Nord Stream 2 is a nice stepping stone for that to happen. And then there is Brexit, another stepping stone for preparing for the quiet (temporary) break with America, only to return as its senior, after the unraveling of the US thanks to internal reasons (racial divide).

  7. Duncan Idaho on Sat, 7th Aug 2021 6:06 pm 

    An arrogant fool

    (a wingpawn, so lets not put down fools)

    https://digbysblog.net/2021/08/07/an-arrogant-fool/

  8. Duncan Idaho on Sun, 8th Aug 2021 3:18 pm 

    Former Newsmax host dies of COVID after deathbed about-face on anti-vax beliefs

    Another wingpawn gets his ass kicked, and is gone.

    https://www.salon.com/2021/08/08/former-newsmax-host-dies-of-covid-after-deathbed-about-face-on-anti-vax-beliefs/

    Better for the human race.
    Get these bad genes out of the population, and stupidity also.

  9. after TURGID SD last year deaths due to convid-19 for elite whitey supertards is 2^N where N takes 200 years to type all digits on Sun, 8th Aug 2021 7:03 pm 

    this year TURGID, SD will push that number to 2000 years.

    At this rate elite whitey supertards will go extinct soon due to convid-19

    we’re still on countdown of 911 where elite whitey supertard prof steven jones found elemental composition of thermate at WTC so thermate was used. it’s basic tard science

    please feel at ease among friends, we’re all lovers of supremacist muzzies here

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