Key Market Indicators
Demand for crude oil in Egypt is expected to reach 2,710 thousand metric tons in December 2021, up from 2,550 thousand metric tons in November 2021. This marks an increase of 10.5% compared to the same period the previous year. Since 2007, the demand for crude oil in the country has risen by an average of 4.2% year on year. Meanwhile, Egyptian crude oil production is set to decline from 30,130 thousand tonnes of oil equivalent in 2021 to 29,160 thousand tonnes of oil equivalent by 2026. This marks a decrease of 0.8% year on year. Since 1976, the supply of crude oil in Egypt has fallen by an average of 2% year on year. Egypt came in 26th in the world rankings in 2021, while Malaysia was the top producing nation at 30,130 thousand tonnes of oil equivalent. Saudi Arabia, the United States and Iraq followed in second, third and fourth place respectively.
