Key Market Indicators
American demand for crude oil is projected to drop to 64.8 million metric tons in the first quarter of 2022, a 6.4% increase from the previous year. Demand has been dropping since 2007, with an overall decrease of 0.8% year on year. Meanwhile, American crude oil production is expected to grow by an average rate of 1.6% year on year to reach 547.1 million tonnes of oil equivalent by 2026. This is a 2% increase since 1976.
