Skip to main content

Crude oil exports from OPEC countries dipped by 1.6% in 2017 (World)

The Organization of the Petroleum Exporting Countries (OPEC) has issued its 53rd Annual Statistical Bulletin (ASB) and announced that exports of crude oil from its member countries averaged 24.86 mb/d in 2017, posting a 1.6% decline on 2016. The bulk of the production from OPEC countries was shipped to the Asia and Pacific region (63% of the total). Besides, shipments of crude oil to Europe also increased from 4.4 mb/d to 4.64 mb/d in 2017. However, exports to North America decreased by 82,000 bbl/d (-2.5%).



The global crude oil production decreased by 701 kb/d (-0.9%) to 74.69 mb/d, which marks the first decline in output since 2009. This was due to a 2.8% decrease in crude oil output from OPEC member countries (-926 kb/d). The global oil reserves dropped by 0.4% to 1,483 Gboe, while the global natural gas reserves rose by 0.2% to 199.4 tcm.



According to the OPEC, the global oil demand stood at 97.2 mb/d in 2017 (+1.7%), with the largest growth taking place in the Asian Pacific region (India and China in particular). The global refining capacity averaged 96.93 mb/d in 2017 (+104 kb/d) thanks to additions in the Asia and Pacific region again.

Global energy reports

Interested in Global Energy Research?

Enerdata's premium online information service provides up-to-date market reports on 110+ countries. The reports include valuable market data and analysis as well as a daily newsfeed, curated by our energy analysts, on the oil, gas, coal and power markets.

This user-friendly tool gives you the essentials about the domestic markets of your concern, including market structure, organisation, actors, projects and business perspectives.

Request a free trial Contact us