Key Market Indicators
Demand for Malaysian crude oil decreased by 16.8% from 1,880 thousand metric tons in October 2021 to 1,670 thousand metric tons in September 2021. This was lower compared to the same period a year earlier. Since April 2012, Malaysian demand has decreased by 4% year on year. Malaysian crude oil production is expected to reach 31,730 thousand tonnes of oil equivalent by 2026, slightly lower than the 31,370 thousand tonnes of oil equivalent in 2021. This is a 0.1% year on year average rate decrease since 1976. Malaysia ranked 25th in 2021; Indonesia overtook the country with 31,370 thousand tonnes of oil equivalent. Saudi Arabia, the US and Iraq were ranked 2nd, 3rd and 4th respectively.
