Key Market Indicators
Dane crude oil demand is expected to grow 3% in 2021, reaching 648 thousand metric tons. This is a slight rise from the 643 thousand metric tons seen in the previous year. Since 2007, however, there has been a 1% decline year on year. Meanwhile, Dane crude oil production is expected to fall by 10.2% year on year in 2026, reaching 2,620 thousand tonnes of oil equivalent. This marks a decrease from the 4,780 thousand tonnes of oil equivalent seen in 2021. Since 1977, the country has seen a 7.6% decline year on year. In 2021, Dane was ranked 38th in the world in terms of production, with Ghana being ranked ahead at number 2. Saudi Arabia, the United States and Iraq were respectively ranked numbers 2, 3 and 4.
