Key Market Indicators
Malaysia's crude oil demand reached 1.9 million tonnes in October 2021, down 16.8% year-on-year. This figure has been decreasing steadily since April 2012, with a 4% year-on-year average fall. Malaysia's crude oil production is expected to reach 31.7 million tonnes of oil equivalent by 2026, with a 0.1% year-on-year average decrease. Since 1976, the supply has decreased by an average of 1.2% year-on-year. Malaysia ranked 25th in 2021, with Indonesia ahead of it at 31.3 million tonnes of oil equivalent. Saudi Arabia, the US and Iraq respectively ranked second, third and fourth.
