Key Market Indicators
German demand for crude oil fell by 0.7% year-on-year in January 2022, amounting to 7.7 million metric tons. This was 15.9% higher than the same month in 2021. German crude oil production is projected to decline by an average of 3.1% year-on-year to 1.6 million metric tons of oil equivalent by 2026. This marks a decrease of 4.4% since 1976, when it stood at 1.9 million. In 2021, Germany ranked 47th in the world, overtaken by Sudan. Saudi Arabia, the United States and Iraq were the top three countries in the ranking.
