Chile Oil Extraction Industry Outlook 01/2022

Key Market Indicators

Chilean demand for crude oil is close to 862 thousand metric tons for January 2022, a 17.6% increase from the 830 thousand metric tons in December 2021. This is a slight decrease from the 0.3% year-on-year decline since January 2007. Chilean crude oil production is forecast to drop 8.2% year-on-year to 82.74 thousand tonnes of oil equivalent by 2026. Since 1976, the country's crude oil production has declined by 8.7% year-on-year. In 2021, Chile ranked 71st in production, overtaken by Japan at 133.13 thousand tonnes of oil equivalent. Saudi Arabia, the United States and Iraq followed in ranks 2, 3 and 4 respectively.

Chile Oil Extraction Market Data and Forecasts

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