Key Market Indicators
Lithuania's crude oil demand is expected to drop by 20.5% in December 2021, compared to the same month a year before. This will bring the total demand to 776 thousand metric tons. This is 1.5% lower than it was in January 2008. Meanwhile, Lithuania's crude oil production is also set to decline in 2021. Output is expected to drop 13.1% from 2020 levels, to 23.31 thousand tonnes of oil equivalent. This is 18.5% lower than the 1995 figure. Lithuania has been overtaken by South Africa, coming in at 78th in the global ranking. Saudi Arabia, the United States and Iraq took the top three spots.
