The 2021 edition of the bp World Energy Statistics Review was released last week, which means it’s time to publish my annual review.
This year is the 70th anniversary edition; as always, the magazine is a must-read for anyone interested in the energy world.
(Annual Disclosure:
I directed the exam for more than ten years...) The
exam contains comprehensive and objective global data on all forms of energy and key minerals. [1]
The bp analysis method accompanying this year’s review verifies the headlines we have read in the past year:
In 2020, global energy demand (4.5%) and energy-related carbon dioxide emissions (6.3%) will drop sharply .
(Although, as the chief economist Spencer Dale pointed out, the record decline in carbon dioxide was at the cost of the world economy’s worst contraction since the Great Depression.)
An unreviewed item is world energy production ; It has data on the total energy consumption and production of each energy form, but it does not aggregate the production data into the total energy production table.
However, as I explained in my comment last year, a simplified assumption allows me to construct my own total energy production table. [2]
The results are instructive.
Like consumption, world energy production has fallen dramatically (4.2%), the largest drop (absolute value and percentage) in the entire bp data set, dating back to 1965.
However, world energy production has not been as rapid as world demand.
Opportunities for global energy production
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Regional data:
The United States leads the decline in energy production
The decline is common, the OECD and the Organization for Economic Cooperation and Development (OECD)) have a record decline (4.8%) and non-OECD countries (3.9%). The United States (the world’s second-largest energy producer) experienced a 5.3% decline, which was the world’s largest decline last year and the largest domestic decline in history.
The output of all fossil fuels, nuclear energy and biofuels has fallen.
According to data from the US Department of Energy, the United States has seen a record decline in the energy content of oil production, but not in volume units (barrels/day, record decline in 1989); this reflects the fact that the shale revolution led to US oil Changes in production quality include crude oil and natural gas liquids.
(The limitations of my “simplified hypothesis” are very helpful!)
As domestic demand and the international market plummet, domestic coal production in the United States has also seen a record decline-the last topic will be detailed later.
Although natural gas production declined, there was no record decline in 2020.
My colleague Anna Mikulska and I wrote articles elsewhere about the dynamics of U.S. oil and gas production during the pandemic.
In addition to setting a national record, the overall decline in U.S. energy production last year was also the second largest decline in global energy production on record, after Saudi Arabia in 1982.
In that year, the country slashed its oil production by 32% (3.3 million barrels per day, Mb/d), when OPEC first introduced formal oil production quotas in response to the collapse of global demand after the oil crisis in the 1970s and other than OPEC Supply increases.
Elsewhere, Russia (the third-largest energy producer in the world) has also experienced a record production decline (by percentage even more than the United States, 7%). [3]
However, China’s domestic energy production growth last year, the world’s largest energy producer, was the largest in the world.
Although many people pointed out that China led global growth in renewable energy production last year, it also increased domestic oil, natural gas, and coal production.
In fact, China’s natural gas, coal, nuclear power, hydropower, and renewable (non-hydropower) energy production growth rate ranks first in the world, and oil production growth rate ranks third in the world.
Classified by type of energy:
Oil was greatly affected by the shutdown of transport
In energy, oil continues to be the main source of fuel in the world, but registered the largest drop in the world last year.
World oil production fell by 6.6 Mb / d, both in percentage (6.9%) and in volume, a record.
As with total energy, the rate of decline in world oil production is not as rapid as the decline in world consumption, even if the “OPEC +” group has carried out the largest coordinated production cut in the world. history of the world, and falling prices have caused investment and production to collapse in the United States and elsewhere.
As bp pointed out, oil stands out during the pandemic and drives the global energy story; Not only is it the world’s largest energy source (31% of total energy demand last year), it is also affected by COVID-related transportation Stops Disproportionate impact. Returns to production
. As part of the OPEC + group, Russia has the largest drop in production (1 Mb / d), and Libya, Saudi Arabia and Iraq (except the United States) also experienced significant falls.
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Both OPEC and non-OPEC countries as a group have seen record declines. 86% of the countries listed in the BP production table (42 out of 49) have low production.
However, it is interesting to note that among the world’s top 10 producing countries, only the United States (a bit, as mentioned above) and the United Arab Emirates experienced record declines last year.
As mentioned above, the decline in Saudi oil production last year was overshadowed by the experience of the early 1980s.
Among other countries with a large decline in 2020, Russia’s decline is smaller than the observed loss. In the early 1990s after the collapse of the Soviet Union, Iraq’s (and Kuwait’s) output fell even faster in 1991 after the former invaded the latter, while Libya’s output fell even faster during the Arab Spring. Chapter

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