Key Market Indicators
Italian crude oil demand dropped to 4.8 million metric tons in January 2022, down 8.3% from 5.3 million metric tons in December 2021. This is the lowest level since January 2007, and a 4.2% decrease from the same period a year ago. Italian crude oil production is projected to reach 3.0 million tonnes of oil equivalent in 2026, a 2.8% decrease from 3.5 million tonnes of oil equivalent in 2021. This would be the lowest production level since 1976, with a year-on-year decrease of 1.2%. In 2021, Italy ranked 42nd in the world for oil production, behind Cameroon (3.5 million tonnes of oil equivalent). Saudi Arabia, the United States and Iraq were the top three producers in the world.
Italy Oil Extraction Market Data and Forecasts
How much will Italy Oil Extraction Market grow?
More in Oil Extraction Industry for 2028Improve your Knowledge with the latest Indicators and Trends
-
Mining Drilling Services: Delving Deep into Global Opportunities and Industry Forecasts
The necessity for mining drilling services primarily stems from the global demand for mineral resources. As technologies advance, a higher quantity of minerals like gold, silver, copper, iron, and coal are needed to support industrial activities, and this has led to an upsurge in mining activities worldwide. Moreover, the increasing...
Discover more insights -
Digital Oilfield: Navigating Evolution, Growth and Impact in the Energy Sector
As technology evolves across various economic sectors, the energy sector is not exempt. The advent of advanced digital technologies is significantly transforming the way oil and gas companies operate. From data analytics driving operational efficiency to remote monitoring reducing downtime, technology is reshaping the industry's landscape. This transformation, commonly referred...
Discover more insights -
Scrutinizing the Future of Enhanced Oil Recovery (EOR): Approaches, Techniques, and Market Opportunities
The present discussion encapsulates a long-established but rapidly evolving field that deploys advanced techniques to extract maximum capacity of petroleum resources. Innovative technologies have shifted the focus from primary and secondary recovery methods towards Enhanced Oil Recovery (EOR). These approaches significantly vary, and predominantly include thermal recovery, chemical flooding, and...
Discover more insights -
Decoding the Thriving Global Market: Drilling and Completion Fluids
Several key market trends are underpinning the surging demand for drilling and completion fluids. As the complexity of drilling operations increases, so does the need for fluids that can handle high temperature and pressure conditions. Further, the push towards exploring unconventional resources is contributing to this expansion. Crucially, an improving...
Discover more insights -
Drilling Into the Future: Unearthing Opportunities in the Global Air Core Drilling Industry
The advent of improved technologies in the mining and construction sectors has highlighted the significance of air core drilling. This technique offers unprecedented advantages - reduced contamination, swift results, and efficient extraction of mineral samples. Consequently, businesses globally are adopting this system to optimize productivity and enhance profits. The escalating...
Discover more insights