Key Market Indicators
Egyptian crude oil demand is on the rise. In December 2021, it was estimated to hit 2.7 million metric tonnes, a 10.5% increase year on year. Since 2007, demand has grown by an average of 4.2% annually. Meanwhile, the country’s production is set to drop by 0.8% annually over the next five years, from an estimated 30.1 million tonnes of oil equivalent in 2021 to 29.2 million tonnes of oil equivalent in 2026. This marks a 2% decrease since 1976. Egypt currently ranks 26th in global production, overtaken by Malaysia, with Saudi Arabia, the US and Iraq taking the top three spots.
