Key Market Indicators
Demand for Peruvian crude oil has dropped significantly, by 58%, from 415 thousand metric tons in June 2021 to 106 thousand metric tons in July 2021. This decrease is part of a long-term trend, with demand falling by almost 30% since 2007. Meanwhile, oil production in Peru has also seen a decrease over the past few years, dropping by 12.8% since 2021. Compared to the rest of the world, Peru is now ranked 51st in production, with Uzbekistan overtaking the country in 2021. Saudi Arabia, the United States and Iraq rank 2nd, 3rd and 4th respectively.
