Key Market Indicators
Austria's crude oil demand rose 8.5% in January 2022 compared to December 2021. Despite this, demand has decreased 0.6% since January 2007. Meanwhile, the country's crude oil production is expected to fall 2.1% year-on-year CAGR by 2026. This is a decrease of 3.4% since 1976. In 2021, Austria was ranked 62nd in the world, with the Netherlands ahead at 671.99 thousand tonnes of oil equivalent. Saudi Arabia, the United States and Iraq followed as the second, third and fourth biggest producers, respectively.
