Key Market Indicators
Demand for crude oil in Dane is forecast to hit 650,000 metric tons in December 2021, up 3% from 643,000 metric tons in November 2021. Since 2007, demand has been down 1% year-on-year. Meanwhile, Dane's crude oil production is set to decline 10.2% year-on-year to 2.62 million tonnes of oil equivalent by 2026, from 4.78 million tonnes of oil equivalent in 2021. Since 1977, supply has dropped 7.6% year-on-year. The country ranked 38th in 2021, and was overtaken by Ghana at 4.78 million tonnes of oil equivalent. Saudi Arabia, the United States and Iraq respectively came in at second, third and fourth place in the rankings.
