Russia leads in supporting petroleum producers with a substantial $13.99 billion investment. In 2023, the United Kingdom saw a significant increase at 14.4%, while Australia's and China's support grew by 4.64% and 2.17% respectively. Notably, India recorded an 87.71% increase, reflecting substantial investment growth. Conversely, Brazil faced a steep 25.5% decline, and the United States showed negative support. Over five years, Indonesia's support has surged dramatically, with a notable compound annual growth rate.
Future trends to monitor include the increasing focus on sustainable energy. Shifts in policy or technology could influence the market dynamics and alter the patterns of support across countries.
Top countries in Total Support on Petroleum for Producers by Country
| # | 10 Countries | Million US Dollars, Constant = 2020 | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Russia | 13,990 | 2023 | +14.12% | -1.27% | View data |
| 2 | 2 Mexico | 13,190 | 2023 | +28.93% | View data | |
| 3 | 3 United Kingdom | 4,130 | 2023 | +6.82% | +14.4% | View data |
| 4 | 4 Australia | 2,670 | 2023 | +5.79% | +4.64% | View data |
| 5 | 5 China | 1,990 | 2023 | -3.11% | +2.17% | View data |
| 6 | 6 Argentina | 1,090 | 2023 | +8.19% | +8.66% | View data |
| 7 | 7 Indonesia | 544.42 | 2023 | +4.68% | +33.39% | View data |
| 8 | 8 Brazil | 420.97 | 2023 | -40.49% | -25.5% | View data |
| 9 | 9 Germany | 291.83 | 2023 | -0.92% | -0.6% | View data |
| 10 | 10 France | 289.2 | 2023 | +11.68% | +3.01% | View data |
