Key Market Indicators
Demand for crude oil in New Zealand is close to 350,000 metric tons for January 2022, a 3.1% drop from the 339,000 metric tons in December 2021. Since January 2007, New Zealander demand has been down 5.9% year on year. Meanwhile, New Zealand’s crude oil production is set to reach 1,180,000 tonnes of oil equivalent by 2026, a decrease of 2.3% from 2021’s 1,340,000 tonnes of oil equivalent. Since 1977, New Zealand’s supply has dropped 3.9% year on year. The country ranked 53rd in 2021, with Tunisia overtaking at 1,340,000 tonnes of oil equivalent. Saudi Arabia, the United States and Iraq were in the 2nd, 3rd and 4th spots respectively.
