Coronavirus pandemic curtails global oil production

Oct 25, 2022

With the collaboration of Statista.

In the course of the coronavirus pandemic, global crude oil production has been majorly curtailed Image: Unsplash/Timothy Newman

Katharina Buchholz

Data Journalist, Statista

Global production of crude oil was curtailed significantly during the pandemic, a Statista chart shows.
This was because lockdowns led to the demand and price of gasoline falling.
North America has driven the global increase in its oil production over the past two decades.
But the Middle East has consistently produced the most crude oil during the period, according to recent analysis.
The biggest growth in oil demand is being seen in the US, China as well India.

In the course of the coronavirus pandemic, global crude oil production has been majorly curtailed as lockdowns led to the demand - and the price - of gasoline falling.

North America has been the main driver behind the global increase in crude oil production over the past two decades, while the Middle East remained the biggest producer. According to analyst Enerdata, both regions saw major dips in oil production in 2020 and 2021, as did Africa and CIS countries. Most of the oil in North America is extracted from shale by a controversial method known as fracking.

The main users of oil around the world are United States and China, which together use about one third of the world’s supply. The biggest growth in oil demand can also be witnessed in the U.S and China well as in India.

Coronavirus pandemic curtails global oil production Image: Enerdata

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