Key Market Indicators
Hungary’s crude oil demand reached 608,000 metric tons in January 2022, up 6.5% from 612,000 metric tons in December 2021. Since 2007, the country has seen a 4.1% rise in demand year-on-year. Meanwhile, Hungary’s crude oil production is forecast to drop 1.9% year-on-year to 563,000 tonnes of oil equivalent by 2026. This is down 2.7% from 621,000 tonnes in 2021. In 2021, Hungary was the world’s 65th largest producer, behind the Philippines. Saudi Arabia, the United States and Iraq were the world’s top three producers.
