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Oil Extraction Market Outlook 2022 - 2026

Daily Updated Industry Statistics and Top Emerging Trends about the Oil Extraction Industry

Global Oil Extraction Trends in 2022

Oil Extraction is part of Oil and includes a number of sub-sectors such as Oil Drilling and Enhanced Oil Recovery. You may also be interested in Oil Refining and Crude Oil.

Global crude oil production is projected to reach 4 million tonnes of oil equivalent by 2026, with an average yearly growth of 0.3%. This is in contrast to the 0.5% year-on-year decline since 1976. In 2021, Russia was the top producer of crude oil, with 520,570 thousand tonnes of oil equivalent. Saudi Arabia, the United States, and Iraq followed in second, third, and fourth place respectively. Ghana saw a 14.1% year-on-year increase, while Sudan experienced a 24.1% decrease since 1976.

Top 10 countries

In 2022 major markets in the Oil Extraction Industry were:

Oil Extraction Market Data and Forecasts

How much the Oil Extraction industry is expected to grow to 2026?

Forecast: Total Crude Oil Production in the World
Forecast: Total Crude Oil Production in Albania
Forecast: Total Crude Oil Production in Poland
Forecast: Total Crude Oil Production in Norway
Forecast: Total Crude Oil Production in Czech Republic
More in Oil Extraction Industry for 2027

Global Oil Extraction Statistics

Global Oil Extraction Industry Database

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