Key Market Indicators
Serbian crude oil production is projected to reach 902 thousand tonnes of oil equivalent by 2026. This is a slight decrease of 0.4% compared to 2021, when Serbia had 910 thousand tonnes of oil equivalent. Since 1995, the country's production has declined by an average of 1.5% per year. In 2021, Serbia was ranked 59th in the world for oil production, behind Nigeria with 911 thousand tonnes of oil equivalent. Saudi Arabia, the United States and Iraq were the top three producers.
