Forecast increase in the world oil production

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Forecast increase in the world oil production

The bar chart shows the rise of oil production in the world between 1980 and 2010 and its growth forecast in million barrels in 2020.

It is clear that the amount of oil production in OPEC Middle-East countries is predicted to rise dramatically, while the production of non OPEC and other OPEC countries will experience a significant decline.

Statistically, the rise of oil production in OPEC Middle-East countries was recorded from just under 3 million to around 8 million barrels between 1980-2000 and 2000-10, a rise of about 5 million barrels in 30 years. In any case, this is predicted to be a threefold increase in production in 2020.

Turning to 1980 and 2000, the figure of non-OPEC countries reached 11 million barrels in world oil production. However, after a short peak in 2000-2010 with eighteen million barrels, the oil production of non-OPEC countries is predicted to decline slightly in 2020. At the same time, the figure of the other OPEC countries will peak at 17 million barrels in 2020, a rise of about 4 million barrels in oil production from 2000 to 2020.

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