Key Market Indicators
Dutch demand for crude oil stood at 4,020 thousand metric tonnes in January 2022, 0.1% higher compared to the same period the previous year. Since 2007, demand has decreased by 3.1% annually. The country's production of crude oil is projected to decline by 7.2% CAGR between 2021 and 2026, falling from 737 thousand tonnes of oil equivalent to 486.2 thousand tonnes. This would represent a cumulative decrease of 5.5% since 1976. The Democratic Republic of Congo replaced The Netherlands as the 61st largest producer of crude oil in 2021. Saudi Arabia, the United States and Iraq occupied the top three spots in the ranking.