Key Market Indicators
Peruvian crude oil demand dropped by 58% in July 2021, compared to June 2021, down to 106 thousand metric tons. This is the lowest it has been since 2007, when demand began to drop by an average of 29.8% year on year. Meanwhile, the country's production of crude oil is expected to decrease by 12.8% year on year by 2026, down to 679 thousand tonnes of oil equivalent. This is 6.6% lower than production levels in 1976. In 2021, Peru was ranked 51st, while Uzbekistan was the highest at 1,450 thousand tonnes of oil equivalent. Saudi Arabia, the US and Iraq came in second, third and fourth respectively.
