![]() ![]() ![]() Among all countries, Libya (840,000 b/d), Iran (540,000 b/d) and Canada (300,000 b/d) saw the largest increases. Global oil production increased by 1.4 million b/d in 2021, with OPEC+ accounting for more than three-quarters of the increase.Regionally, most of the growth took place in the US (1.5 million b/d), China (1.3 million b/d) and the EU (570,000 b/d). A majority of the consumption growth came from gasoline (1.8 million b/d) and diesel/gasoil (1.3 million b/d).Oil consumption increased by 5.3 million barrels per day (b/d) in 2021 but remained 3.7 million b/d below 2019 levels.Oil prices averaged $70.91/bbl in 2021, the second highest level since 2015. ![]()
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