Key Market Indicators
Mongol crude oil production is on the rise, with an expected increase of 3.1% year on year, from 1.3 million tonnes of oil equivalent in 2021 to 1.6 million tonnes in 2026. Since 2004, Mongol supply has grown by an average of 2.5% each year. In 2021, the country was ranked 55th in the world, with New Zealand coming in ahead at 1.3 million tonnes of oil equivalent. Saudi Arabia, the United States and Iraq were the top three producers, respectively.
