Key Market Indicators
French demand for crude oil is expected to jump by 44% in December 2021, compared to the same period a year earlier. This is a sharp rise from the 3,180 thousand metric tons of demand in November 2021. Despite this surge, since 2007 French demand for crude oil is down by 8.6% on average year on year. French production of crude oil is set to reach 497.75 thousand tonnes of oil equivalent by 2026. This is a 4.3% decrease compared to 2021, when the country produced 632.21 thousand tonnes of oil equivalent. Since 1976, French production of crude oil has fallen by 5.4%. In 2021, France ranked 64th in the world for crude oil production. Austria overtook France in the same year, coming in at 632.21 thousand tonnes of oil equivalent. Saudi Arabia, the United States and Iraq ranked second, third and fourth respectively.