Key Market Indicators
Romanian crude oil demand is set to reach 936 thousand metric tonnes in December 2021, a 0.4% decrease compared to the 710 thousand metric tonnes in November 2021. Since 2008, the demand has fallen by 1.8% year on year. For crude oil production, Romania is expected to produce 2,340 thousand tonnes of oil equivalent by 2026, 3.6% lower than the 2,860 thousand tonnes of oil equivalent in 2021. This will result in a 4.4% decrease from the 1976 production levels. In 2021, Romania was the 44th largest producer in the world, with Trinidad and Tobago ranking ahead with 2,860 thousand tonnes of oil equivalent. Saudi Arabia, the United States and Iraq followed as the 2nd, 3rd and 4th largest producers, respectively.
