Key Market Indicators
Demand for crude oil in Thailand fell slightly in January 2022 to 4.4 million metric tons, down by 0.5% compared to the same period last year. Since 2007, Thai demand has decreased by 2%. Production of crude oil in the country is projected to reach 13.3 million tonnes of oil equivalent by 2026, a 0.9% year-on-year growth. Since 1976, Thai supply has decreased by 0.8% annually. In 2021, the country was ranked 32nd, overtaken by Vietnam (12.5 million tonnes of oil equivalent). Saudi Arabia, the United States and Iraq ranked second, third and fourth respectively.
