Crude oil production in France has shown significant fluctuations over the past decade. After an initial peak of 810.29 thousand tonnes of oil equivalent (ktoe) in 2013, the production saw variable declines and growths, dropping to 708.9 ktoe in 2022. Year-on-year variations show notable highs and lows, with a consistent decrease observed in the recent years. Between 2018 and 2023, the compound annual growth rate (CAGR) was -2.31%, reflecting a general downward trend. For 2023, production stood at 703.5 ktoe with a minor -0.76% decline from 2022.
Future trends to watch for include:
- Continued decline in production with a forecasted 5-year CAGR of -2.43% from 2024 to 2028.
- Potential impacts of global energy transitions towards renewables influencing oil production outputs.
- Technological advancements in extraction methods that could counteract the decline.
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