Key Market Indicators
Crude oil production in Ecuador is projected to reach 27,610 thousand tonnes of oil equivalent by 2026. This figure is a slight increase of 0.4% on average year on year from the current level of 26,640 thousand tonnes of oil equivalent in 2021. Since 1976, Ecuadorian production has declined by an average of 0.9% year on year. In 2021 Ecuador was ranked 28th with Qatar ahead in 27th position at 26,640 thousand tonnes of oil equivalent. Saudi Arabia, the United States and Iraq came 2nd, 3rd and 4th in the ranking respectively.
