Key Market Indicators
Taiwanese demand for crude oil is set to reach 3,530 thousand metric tons by January 2022, a 29.3% increase from December 2021’s 3,490 thousand metric tons. Since 2007, the country’s demand has decreased by 1% annually. Taiwanese crude oil production dropped 37.5% from 8.1 thousand tonnes of oil equivalent in 2016 to 5.06 thousand tonnes of oil equivalent in 2017. Since 1976, the country’s supply has decreased by 12.9% annually. It ranked 83rd in 2017, with Slovakia ahead at 5.06 thousand tonnes of oil equivalent. Saudi Arabia, the United States and Iraq came in second, third and fourth respectively.
