Growth may be slowing even further in the future. In 2011, Russia’s crude oil production grew by 0.6%. Russia oil and other liquids production based on EIA data. This is better than the world average of 3.0%, but still falls short of the expected growth between 20 of 10.2%, mentioned above, based on the 1983 to 2005 world growth pattern.įigure 3. Let’s look at the five largest countries individually.īetween 20, Russia’s oil production (including substitutes) grew by 7.5%. Of the top five oil producers, only the US and China have been growing very rapidly, and China’s growth now seems to be hitting limits. If the heavy oil imports were to go to another country with complex refineries (such as China), the processing gain would go with it.
#Eia oil production by country crack#
The US comes out ahead in this comparison because it imports a lot of heavy oil, and uses its complex refineries to crack it into shorter chains, such as diesel fuel and gasoline. The EIA assigns this growth back to the country doing the refining. This term refers to the extra volume that is gained when long hydrocarbons of heavy oil are”cracked” into shorter molecules. There is also growth in “processing gain”.
This category also includes biodiesel, liquid fuels made from coal or from natural gas, and even a mixture of water with very heavy oil called “ Orinoco emulsion“. It is mostly ethanol, which has about 60% of the energy content of crude oil per barrel. On an energy content basis, they provide about 70% as much energy per barrel as crude oil. In the US, they sell for a little less than half as much as crude oil, based on the composition and costs shown in this post. Natural gas liquids are the largest category. While substitute liquids are OK, they are not really crude oil. On this basis, the US also appears to be closer to catching up to the top two. The top five producers when substitute liquids of various kinds are included are the same countries, but in a different order. The top five crude oil producers in 2011, based on the new data areġ. Russia – 9.8 million barrels a day (mbd) World oil and other liquids supply, broken out into crude and condensate, natural gas plant liquids, other liquids (mostly ethanol), and processing gain (increase in volume from refining heavy oil), based on EIA data.īetween 20, crude oil production rose only 0.5%. Figure 2, below, shows crude oil production separately from substitutes.įigure 2. The shortfall in growth especially occurred in crude oil. These high oil prices tend to interfere with economic growth of oil importing nations. This is no doubt one of the reasons why oil prices are as high they are now.
This is far more than any country claims as spare capacity. The shortfall in oil production relative to what would have been expected based on the 1983-2005 growth pattern amounted to 4.7 million barrels in 2011.
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