In 2023, Russia led the global total support for fossil fuel production with significant contributions, though experiencing a slight decline. India showed substantial growth, followed by Mexico with an exceptionally high increase. Moderate growth was noted in the United Kingdom, China, and Japan, while Brazil, Canada, and several smaller economies reported declines. The United States maintained stable support levels, contributing negatively due to decreased emphasis on fossil fuels.
Future trends to monitor include the potential for increased investment in India and significant shifts in Mexico's policies. Watch for policy changes in major economies, pushing for renewable energy investments, potentially altering future support levels.
Top countries in Total Support on Petroleum for Fossil Fuel Production Share by Country (Million US Dollars, Constant = 2020)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Russia | 36.26 | 2023 | +13.99% | -1.33% | View data |
| 2 | 2 India | 23.43 | 2023 | +6.8% | +6.71% | View data |
| 3 | 3 Mexico | 16.7 | 2023 | +18.74% | +142.52% | View data |
| 4 | 4 United Kingdom | 8.93 | 2023 | +7.07% | +13.39% | View data |
| 5 | 5 China | 5.27 | 2023 | -2.6% | +2.34% | View data |
| 6 | 6 Japan | 5.14 | 2023 | +1.25% | +4.95% | View data |
| 7 | 7 Brazil | 1.76 | 2023 | -29.18% | -19% | View data |
| 8 | 8 Canada | 1.15 | 2023 | -6.03% | -2.2% | View data |
| 9 | 9 Indonesia | 1.14 | 2023 | +2.61% | +27.96% | View data |
| 10 | 10 Colombia | 0.72 | 2023 | +1.51% | +1.32% | View data |
