Key Market Indicators
Indonesia's crude oil demand is predicted to increase by 16 percent year-on-year in January 2022, reaching 3,840 thousand metric tons. This is up from 3,710 thousand metric tons in December 2021. It is also a 2.2 percent increase from November 2007. Meanwhile, Indonesia's crude oil production is anticipated to drop by 2.4 percent year-on-year on average between 2021 and 2026, reaching 30,010 thousand tonnes of oil equivalent. This is down from 34,200 thousand tonnes of oil equivalent in 2021, and a 3.7 percent decrease from 1976. India overtook Indonesia in 2021, ranking 23rd in the world, while Saudi Arabia, the United States and Iraq respectively ranked 2nd, 3rd and 4th.
