Key Market Indicators
German demand for crude oil is expected to drop to around 7.7 million metric tons in 2022 from 7.8 million metric tons in 2021, a decrease of 16%. This is a 0.7% decrease since 2007. Germany's crude oil production is predicted to decline by 3.1% per year on average over the next five years, reaching 1.6 million tonnes of oil equivalent in 2026. This would be a 4.4% decrease since 1976. In 2021, Germany was in 47th place, being overtaken by Sudan with 1.9 million tonnes of oil equivalent. Saudi Arabia, the United States and Iraq were the top three producers, respectively.
