Figure6.1Interregionalcrudeoilandproductsexports,2021–2045mb/dSource:OPECincludingcondensatesCrudeoilProducts202133.8517.31202538.8121.11203038.2518.94203539.4419.96204040.2220.15204540.4120.48Totalsmaynotaddupduetorounding.©2022OrganizationofthePetroleumExportingCountriesDisclaimer:Thedata,analysisandanyotherinformation(the“information”)containedintheWorldOilOutlookisforinformaprofessional;norismeanttobeabenchmarkorinputdatatoabenchmarkofanykind.Whilstreasonableeffortshavebeenmrepresentationsastoitsaccuracy,relevanceorcomprehensiveness,andassumesnoliabilityorresponsibilityforanyinaccurausingorrelyingontheinformationintheWorldOilOutlook.TheviewsexpressedintheWorldOilOutlookarethoseoftheOPECSecretariatanddonotnecessarilyreflecttheviewsofitstheuseandpresentationofdataandothermaterials,donotimplytheexpressionofanyopinionwhatsoeveronthepartofOexploration,exploitation,refining,marketingandutilizationofitspetroleumorotherenergyresources.NothingintheWorldOexpressinganylegalopinionsorhavingprobativelegalvalueinanyproceedings.20212025203001020304050607080CrudeoilProductsmb/dOilOutlookisforinformationalpurposesonlyandisneitherintendedasasubstituteforadvicefrombusiness,finance,investmentconsultaableeffortshavebeenmadetoensuretheaccuracyoftheinformationcontainedintheWorldOilOutlook,theOPECSecretariatmakesnonsibilityforanyinaccuracy,errororomission,orforanylossordamagearisinginconnectionwithorattributabletoanyactionordecisionyreflecttheviewsofitsgoverningbodiesand/orindividualOPECMemberCountries.ThedesignationofgeographicalentitiesintheWorldtsoeveronthepartofOPECand/oritsMemberCountriesconcerningthelegalstatusofanycountry,territoryorarea,orofitsauthoritiess.NothingintheWorldOilOutlookshallbeconstruedasinterpretingormodifyinganylegalobligationsunderanyagreement,treaty,law0252030203520402045oductsnce,investmentconsultantorotherPECSecretariatmakesnowarrantiesoroanyactionordecisiontakenasaresultoficalentitiesintheWorldOilOutlook,andarea,orofitsauthorities,orconcerningtheagreement,treaty,laworothertexts;orFigure6.2Changeincrudeandcondensatesupplybetween2021and2045mb/dSource:OPECIncludescondensateandsyntheticcrudes2021-20252025-2045Europe0.18-0.97Africa0.100.09LatinAmerica1.222.10US&Canada2.80-4.41Asia-Pacific0.13-1.76MiddleEast4.134.02Russia&Caspian-0.450.17Totalsmaynotaddupduetorounding.©2022OrganizationofthePetroleumExportingCountriesDisclaimer:Thedata,analysisandanyotherinformation(the“information”)containedintheWorldOilOutlookisforinformameanttobeabenchmarkorinputdatatoabenchmarkofanykind.Whilstreasonableeffortshavebeenmadetoensurethearelevanceorcomprehensiveness,andassumesnoliabilityorresponsibilityforanyinaccuracy,errororomission,orforanylosOutlook.TheviewsexpressedintheWorldOilOutlookarethoseoftheOPECSecretariatanddonotnecessarilyreflecttheviewsofitspresentationofdataandothermaterials,donotimplytheexpressionofanyopinionwhatsoeveronthepartofOPECand/orirefining,marketingandutilizationofitspetroleumorotherenergyresources.NothingintheWorldOilOutlookshallbeconstrprobativelegalvalueinanyproceedings.-5-4-3-2-101234520mb/dWorldOilOutlookisforinformationalpurposesonlyandisneitherintendedasasubstituteforadvicefrombusiness,finance,investmentchavebeenmadetoensuretheaccuracyoftheinformationcontainedintheWorldOilOutlook,theOPECSecretariatmakesnowarrantieserrororomission,orforanylossordamagearisinginconnectionwithorattributabletoanyactionordecisiontakenasaresultofusingoressarilyreflecttheviewsofitsgoverningbodiesand/orindividualOPECMemberCountries.ThedesignationofgeographicalentitiesintheeronthepartofOPECand/oritsMemberCountriesconcerningthelegalstatusofanycountry,territoryorarea,orofitsauthorities,orcoorldOilOutlookshallbeconstruedasinterpretingormodifyinganylegalobligationsunderanyagreement,treaty,laworothertexts;ore2021-20252025-2045ss,finance,investmentconsultantorotherprofessional;norisatmakesnowarrantiesorrepresentationsastoitsaccuracy,enasaresultofusingorrelyingontheinformationintheWorldOilographicalentitiesintheWorldOilOutlook,andtheuseandorofitsauthorities,orconcerningtheexploration,exploitation,,laworothertexts;orexpressinganylegalopinionsorhavingFigure6.3DatedBrentandUralsCIFRotterdam$/bSource:ArgusNotethatUralstradeinformationisrelativelyscarce,asmanyEuropeanbuyershavestoppedspottrades.ReportsfromlateJan-19Feb-19Mar-19Apr-19May-19Jun-19DatedBrent59.3764.0066.0871.1570.8564.03UralsCIFRotterdam60.2664.1066.2171.9071.6862.47Totalsmaynotaddupduetorounding.©2022OrganizationofthePetroleumExportingCountriesDisclaimer:Thedata,analysisandanyotherinformation(the“information”)containedintheWorldOilOutlookisforinformaprofessional;norismeanttobeabenchmarkorinputdatatoabenchmarkofanykind.Whilstreasonableeffortshavebeenmrepresentationsastoitsaccuracy,relevanceorcomprehensiveness,andassumesnoliabilityorresponsibilityforanyinaccurausingorrelyingontheinformationintheWorldOilOutlook.TheviewsexpressedintheWorldOilOutlookarethoseoftheOPECSecretariatanddonotnecessarilyreflecttheviewsofitsuseandpresentationofdataandothermaterials,donotimplytheexpressionofanyopinionwhatsoeveronthepartofOPECexploration,exploitation,refining,marketingandutilizationofitspetroleumorotherenergyresources.NothingintheWorldOexpressinganylegalopinionsorhavingprobativelegalvalueinanyproceedings.Jan-19Mar-19May-19Jul-19Sep-19Nov-19Jan-20Mar-20May020406080100120140DatedBrent$/bpedspottrades.ReportsfromlateJuly2022mentionmuchlowerdiscountsofaround$15/b,butnodealswereconfirmed.Jul-19Aug-19Sep-19Oct-19Nov-19Dec-19Jan-20Feb-20Mar-20Apr-2063.9158.8362.5759.7363.1166.9063.3855.4531.7118.8363.7359.9561.6559.2864.4467.0962.8655.1129.5116.61heWorldOilOutlookisforinformationalpurposesonlyandisneitherintendedasasubstituteforadvicefrombusiness,finance,investmenlstreasonableeffortshavebeenmadetoensuretheaccuracyoftheinformationcontainedintheWorldOilOutlook,theOPECSecretariayorresponsibilityforanyinaccuracy,errororomission,orforanylossordamagearisinginconnectionwithorattributabletoanyactiononecessarilyreflecttheviewsofitsgoverningbodiesand/orindividualOPECMemberCountries.ThedesignationofgeographicalentitiesinnwhatsoeveronthepartofOPECand/oritsMemberCountriesconcerningthelegalstatusofanycountry,territoryorarea,orofitsauthyresources.NothingintheWorldOilOutlookshallbeconstruedasinterpretingormodifyinganylegalobligationsunderanyagreement,tn-19Mar-19May-19Jul-19Sep-19Nov-19Jan-20Mar-20May-20Jul-20Sep-20Nov-20Jan-21Mar-21May-21Jul-21Sep-21Nov-21Jan-22Mar-22May-22Jul-2200000000DatedBrentUralsCIFRotterdam$/bMay-20Jun-20Jul-20Aug-20Sep-20Oct-20Nov-20Dec-20Jan-21Feb-2128.8140.0843.2744.7940.5840.0142.5449.7454.7362.2330.6542.3644.2845.0340.9840.2643.3550.0754.8961.47iness,finance,investmentconsultantorotherook,theOPECSecretariatmakesnowarrantiesorributabletoanyactionordecisiontakenasaresultoffgeographicalentitiesintheWorldOilOutlook,andtheryorarea,orofitsauthorities,orconcerningtheunderanyagreement,treaty,laworothertexts;orMar-21Apr-21May-21Jun-21Jul-21Aug-21Sep-21Oct-21Nov-21Dec-2165.5664.4668.5172.9674.9970.8074.4083.5481.3774.1064.2963.0267.2671.5773.0968.1472.6581.9380.0873.14Jan-22Feb-22Mar-22Apr-22May-22Jun-22Jul-22Aug-2286.6198.01118.75104.37113.13123.56112.6399.6286.2394.9492.5972.5581.1891.6185.3277.34Figure6.4Globalcrudeandcondensateexportsbyorigin,2021–2045mb/dSource:OPECOnlytradebetweenmajorregionsisconsidered,intratradeisexcluded.202120252030203520402045US&Canada2.754.654.433.903.052.33LatinAmerica3.434.605.015.685.805.73Africa5.385.395.004.544.474.01Europe0.620.000.000.000.000.00Russia&Caspian6.005.275.585.865.695.62MiddleEast15.6818.8718.2419.5021.2222.74Asia-Pacific0.020.000.000.000.000.00Totalsmaynotaddupduetorounding.©2022OrganizationofthePetroleumExportingCountriesDisclaimer:Thedata,analysisandanyotherinformation(the“information”)containedintheWorldOilOutlookisforinformaorotherprofessional;norismeanttobeabenchmarkorinputdatatoabenchmarkofanykind.Whilstreasonableeffortshavmakesnowarrantiesorrepresentationsastoitsaccuracy,relevanceorcomprehensiveness,andassumesnoliabilityorresponanyactionordecisiontakenasaresultofusingorrelyingontheinformationintheWorldOilOutlook.TheviewsexpressedintheWorldOilOutlookarethoseoftheOPECSecretariatanddonotnecessarilyreflecttheviewsofitsOutlook,andtheuseandpresentationofdataandothermaterials,donotimplytheexpressionofanyopinionwhatsoeveronauthorities,orconcerningtheexploration,exploitation,refining,marketingandutilizationofitspetroleumorotherenergyresanyagreement,treaty,laworothertexts;orexpressinganylegalopinionsorhavingprobativelegalvalueinanyproceedings.orldOilOutlookisforinformationalpurposesonlyandisneitherintendedasasubstituteforadvicefrombusiness,finance,investmentcoWhilstreasonableeffortshavebeenmadetoensuretheaccuracyoftheinformationcontainedintheWorldOilOutlook,theOPECSecretassumesnoliabilityorresponsibilityforanyinaccuracy,errororomission,orforanylossordamagearisinginconnectionwithorattributatlook.ssarilyreflecttheviewsofitsgoverningbodiesand/orindividualOPECMemberCountries.ThedesignationofgeographicalentitiesintheWofanyopinionwhatsoeveronthepartofOPECand/oritsMemberCountriesconcerningthelegalstatusofanycountry,territoryorarea,opetroleumorotherenergyresources.NothingintheWorldOilOutlookshallbeconstruedasinterpretingormodifyinganylegalobligationgalvalueinanyproceedings.202120252030203520402045051015202530354045Asia-PacificMiddleEastRussia&CaspianEuropeAfricaLatinAmericaUS&Canadamb/d,finance,investmentconsultantutlook,theOPECSecretariatnnectionwithorattributabletographicalentitiesintheWorldOiluntry,territoryorarea,orofitsyinganylegalobligationsunderFigure6.5Shareofcrudeandcondensateexports,2021-2045%Source:OPECOthersincludeLatinAmerica,Africa,Russia&CaspianandtheUS&Canada.202120252030203520402045Others51.8951.0952.3350.6747.2743.78MiddleEast46.3348.4047.6849.4352.7756.28Totalsmaynotaddupduetorounding.©2022OrganizationofthePetroleumExportingCountriesDisclaimer:Thedata,analysisandanyotherinformation(the“information”)containedintheWorldOilOutlookisforinformaconsultantorotherprofessional;norismeanttobeabenchmarkorinputdatatoabenchmarkofanykind.WhilstreasonableSecretariatmakesnowarrantiesorrepresentationsastoitsaccuracy,relevanceorcomprehensiveness,andassumesnoliabilattributabletoanyactionordecisiontakenasaresultofusingorrelyingontheinformationintheWorldOilOutlook.TheviewsexpressedintheWorldOilOutlookarethoseoftheOPECSecretariatanddonotnecessarilyreflecttheviewsofitsWorldOilOutlook,andtheuseandpresentationofdataandothermaterials,donotimplytheexpressionofanyopinionwhatarea,orofitsauthorities,orconcerningtheexploration,exploitation,refining,marketingandutilizationofitspetroleumorotobligationsunderanyagreement,treaty,laworothertexts;orexpressinganylegalopinionsorhavingprobativelegalvalueineWorldOilOutlookisforinformationalpurposesonlyandisneitherintendedasasubstituteforadvicefrombusiness,finance,investmenarkofanykind.WhilstreasonableeffortshavebeenmadetoensuretheaccuracyoftheinformationcontainedintheWorldOilOutlook,tensiveness,andassumesnoliabilityorresponsibilityforanyinaccuracy,errororomission,orforanylossordamagearisinginconnectionintheWorldOilOutlook.necessarilyreflecttheviewsofitsgoverningbodiesand/orindividualOPECMemberCountries.ThedesignationofgeographicalentitiesinheexpressionofanyopinionwhatsoeveronthepartofOPECand/oritsMemberCountriesconcerningthelegalstatusofanycountry,terdutilizationofitspetroleumorotherenergyresources.NothingintheWorldOilOutlookshallbeconstruedasinterpretingormodifyingaorhavingprobativelegalvalueinanyproceedings.2021202520302035204020454042444648505254565860OthersMiddleEast%ness,finance,investmenttheWorldOilOutlook,theOPECgearisinginconnectionwithorgeographicalentitiesinthetatusofanycountry,territoryorerpretingormodifyinganylegalFigure6.6CrudeandcondensateexportsfromtheMiddleEastbymajordestination,2021–2045mb/dSource:OPECUS&CanadaLatinAmericaAfricaEuropeAsia-Pacific20210.650.110.151.327.1113.4520251.480.230.182.408.6914.5720300.630.000.202.049.0115.3620350.710.000.232.409.4716.1720400.970.000.271.659.8518.3320450.630.010.312.2710.3419.52Totalsmaynotaddupduetorounding.©2022OrganizationofthePetroleumExportingCountriesMiddleEast-localuseDisclaimer:Thedata,analysisandanyotherinformation(the“information”)containedintheWorldOilOutlookisforinformaprofessional;norismeanttobeabenchmarkorinputdatatoabenchmarkofanykind.Whilstreasonableeffortshavebeenmwarrantiesorrepresentationsastoitsaccuracy,relevanceorcomprehensiveness,andassumesnoliabilityorresponsibilityfodecisiontakenasaresultofusingorrelyingontheinformationintheWorldOilOutlook.TheviewsexpressedintheWorldOilOutlookarethoseoftheOPECSecretariatanddonotnecessarilyreflecttheviewsofitsOutlook,andtheuseandpresentationofdataandothermaterials,donotimplytheexpressionofanyopinionwhatsoeveronauthorities,orconcerningtheexploration,exploitation,refining,marketingandutilizationofitspetroleumorotherenergyresagreement,treaty,laworothertexts;orexpressinganylegalopinionsorhavingprobativelegalvalueinanyproceedings.WorldOilOutlookisforinformationalpurposesonlyandisneitherintendedasasubstituteforadvicefrombusiness,finance,investmentcreasonableeffortshavebeenmadetoensuretheaccuracyoftheinformationcontainedintheWorldOilOutlook,theOPECSecretariatmnoliabilityorresponsibilityforanyinaccuracy,errororomission,orforanylossordamagearisinginconnectionwithorattributabletoaessarilyreflecttheviewsofitsgoverningbodiesand/orindividualOPECMemberCountries.ThedesignationofgeographicalentitiesinthenofanyopinionwhatsoeveronthepartofOPECand/oritsMemberCountriesconcerningthelegalstatusofanycountry,territoryorareapetroleumorotherenergyresources.NothingintheWorldOilOutlookshallbeconstruedasinterpretingormodifyinganylegalobligatiovalueinanyproceedings.2021202520302035204020450510152025Asia-PacificEuropeAfricaLatinAmericaUS&CanadaMiddleEast-localusemb/dness,finance,investmentconsultantorotherok,theOPECSecretariatmakesnonwithorattributabletoanyactionorgeographicalentitiesintheWorldOilycountry,territoryorarea,orofitsodifyinganylegalobligationsunderanyFigure6.7CrudeandcondensateexportsfromLatinAmericabymajordestination,2021–2045mb/dSource:OPECUS&CanadaAfricaEuropeAsia-Pacific20211.183.820.050.271.9420251.503.970.120.002.9720301.765.120.030.512.7220352.095.030.040.353.2120402.375.320.090.692.6420452.145.540.280.572.74Totalsmaynotaddupduetorounding.©2022OrganizationofthePetroleumExportingCountriesLatinAmerica-localuseDisclaimer:Thedata,analysisandanyotherinformation(the“information”)containedintheWorldOilOutlookisforinformaconsultantorotherprofessional;norismeanttobeabenchmarkorinputdatatoabenchmarkofanykind.WhilstreasonableOPECSecretariatmakesnowarrantiesorrepresentationsastoitsaccuracy,relevanceorcomprehensiveness,andassumesnowithorattributabletoanyactionordecisiontakenasaresultofusingorrelyingontheinformationintheWorldOilOutlook.TheviewsexpressedintheWorldOilOutlookarethoseoftheOPECSecretariatanddonotnecessarilyreflecttheviewsofitsWorldOilOutlook,andtheuseandpresentationofdataandothermaterials,donotimplytheexpressionofanyopinionwhatorarea,orofitsauthorities,orconcerningtheexploration,exploitation,refining,marketingandutilizationofitspetroleumorlegalobligationsunderanyagreement,treaty,laworothertexts;orexpressinganylegalopinionsorhavingprobativelegalva20212001234567mb/dOilOutlookisforinformationalpurposesonlyandisneitherintendedasasubstituteforadvicefrombusiness,finance,investmentykind.WhilstreasonableeffortshavebeenmadetoensuretheaccuracyoftheinformationcontainedintheWorldOilOutlook,thesiveness,andassumesnoliabilityorresponsibilityforanyinaccuracy,errororomission,orforanylossordamagearisinginconnectionntheWorldOilOutlook.lyreflecttheviewsofitsgoverningbodiesand/orindividualOPECMemberCountries.ThedesignationofgeographicalentitiesinthessionofanyopinionwhatsoeveronthepartofOPECand/oritsMemberCountriesconcerningthelegalstatusofanycountry,territoryzationofitspetroleumorotherenergyresources.NothingintheWorldOilOutlookshallbeconstruedasinterpretingormodifyinganyhavingprobativelegalvalueinanyproceedings.20212025203020352040204501234567Asia-PacificEuropeAfricaUS&CanadaLatinAmerica-localusemb/dance,investmentldOilOutlook,thearisinginconnectionhicalentitiesintheanycountry,territorytingormodifyinganyFigure6.8CrudeandcondensateexportsfromRussia&Caspianbymajordestination,2021–2045mb/dSource:OPECUS&CanadaAfricaEuropeMiddleEastAsia-Pacific20210.230.003.496.950.022.2720250.000.322.056.560.002.8920300.000.231.916.420.003.4320350.000.272.136.120.003.4620400.000.202.096.010.003.4020450.000.001.985.820.003.64Totalsmaynotaddupduetorounding.©2022OrganizationofthePetroleumExportingCountriesRussia&Caspian-localuseDisclaimer:Thedata,analysisandanyotherinformation(the“information”)containedintheWorldOilOutlookisforinformaprofessional;norismeanttobeabenchmarkorinputdatatoabenchmarkofanykind.Whilstreasonableeffortshavebeenmwarrantiesorrepresentationsastoitsaccuracy,relevanceorcomprehensiveness,andassumesnoliabilityorresponsibilityfodecisiontakenasaresultofusingorrelyingontheinformationintheWorldOilOutlook.TheviewsexpressedintheWorldOilOutlookarethoseoftheOPECSecretariatanddonotnecessarilyreflecttheviewsofitsOutlook,andtheuseandpresentationofdataandothermaterials,donotimplytheexpressionofanyopinionwhatsoeveronauthorities,orconcerningtheexploration,exploitation,refining,marketingandutilizationofitspetroleumorotherenergyresagreement,treaty,laworothertexts;orexpressinganylegalopinionsorhavingprobativelegalvalueinanyproceedings.WorldOilOutlookisforinformationalpurposesonlyandisneitherintendedasasubstituteforadvicefrombusiness,finance,investmentcreasonableeffortshavebeenmadetoensuretheaccuracyoftheinformationcontainedintheWorldOilOutlook,theOPECSecretariatmnoliabilityorresponsibilityforanyinaccuracy,errororomission,orforanylossordamagearisinginconnectionwithorattributabletoaessarilyreflecttheviewsofitsgoverningbodiesand/orindividualOPECMemberCountries.ThedesignationofgeographicalentitiesinthenofanyopinionwhatsoeveronthepartofOPECand/oritsMemberCountriesconcerningthelegalstatusofanycountry,territoryorareapetroleumorotherenergyresources.NothingintheWorldOilOutlookshallbeconstruedasinterpretingormodifyinganylegalobligatiovalueinanyproceedings.202120252030203520402045012345678Asia-PacificMiddleEastEuropeAfricaUS&CanadaRussia&Caspian-localusemb/dness,finance,investmentconsultantorotherok,theOPECSecretariatmakesnonwithorattributabletoanyactionorgeographicalentitiesintheWorldOilycountry,territoryorarea,orofitsodifyinganylegalobligationsunderanyficastadaCaspian-Figure6.9CrudeandcondensateexportsfromAfricabymajordestination,2021–2045mb/dSource:OPECUS&CanadaLatinAmericaEuropeMiddleEastAsia-Pacific20210.380.091.652.040.002.8720250.220.472.142.950.001.7620300.370.003.443.050.001.5820350.060.103.572.680.001.7020400.090.003.862.140.002.2420450.060.004.191.520.002.43Totalsmaynotaddupduetorounding.©2022OrganizationofthePetroleumExportingCountriesAfrica-localuseDisclaimer:Thedata,analysisandanyotherinformation(the“information”)containedintheWorldOilOutlookisforinformaprofessional;norismeanttobeabenchmarkorinputdatatoabenchmarkofanykind.Whilstreasonableeffortshavebeenmwarrantiesorrepresentationsastoitsaccuracy,relevanceorcomprehensiveness,andassumesnoliabilityorresponsibilityfodecisiontakenasaresultofusingorrelyingontheinformationintheWorldOilOutlook.TheviewsexpressedintheWorldOilOutlookarethoseoftheOPECSecretariatanddonotnecessarilyreflecttheviewsofitsOutlook,andtheuseandpresentationofdataandothermaterials,donotimplytheexpressionofanyopinionwhatsoeveronauthorities,orconcerningtheexploration,exploitation,refining,marketingandutilizationofitspetroleumorotherenergyresagreement,treaty,laworothertexts;orexpressinganylegalopinionsorhavingprobativelegalvalueinanyproceedings.WorldOilOutlookisforinformationalpurposesonlyandisneitherintendedasasubstituteforadvicefrombusiness,finance,investmentcreasonableeffortshavebeenmadetoensuretheaccuracyoftheinformationcontainedintheWorldOilOutlook,theOPECSecretariatmnoliabilityorresponsibilityforanyinaccuracy,errororomission,orforanylossordamagearisinginconnectionwithorattributabletoaessarilyreflecttheviewsofitsgoverningbodiesand/orindividualOPECMemberCountries.ThedesignationofgeographicalentitiesinthenofanyopinionwhatsoeveronthepartofOPECand/oritsMemberCountriesconcerningthelegalstatusofanycountry,territoryorareapetroleumorotherenergyresources.NothingintheWorldOilOutlookshallbeconstruedasinterpretingormodifyinganylegalobligatiovalueinanyproceedings.2021202520302035204020450123456Asia-PacificMiddleEastEuropeLatinAmericaUS&CanadaAfrica-localusemb/dness,finance,investmentconsultantorotherok,theOPECSecretariatmakesnonwithorattributabletoanyactionorgeographicalentitiesintheWorldOilycountry,territoryorarea,orofitsodifyinganylegalobligationsunderanyFigure6.10CrudeandcondensateexportsfromUS&Canadabymajordestination,2021–2045mb/dSource:OPECLatinAmericaEuropeAsia-Pacific202114.500.181.131.44202514.680.500.993.16203014.950.190.283.96203514.150.280.333.29204013.350.240.602.21204512.990.250.271.81Totalsmaynotaddupduetorounding.©2022OrganizationofthePetroleumExportingCountriesUS&Canada-localuse[RHS]Disclaimer:Thedata,analysisandanyotherinformation(the“information”)containedintheWorldOilOutlookisforinformainvestmentconsultantorotherprofessional;norismeanttobeabenchmarkorinputdatatoabenchmarkofanykind.WhilstWorldOilOutlook,theOPECSecretariatmakesnowarrantiesorrepresentationsastoitsaccuracy,relevanceorcomprehensivlossordamagearisinginconnectionwithorattributabletoanyactionordecisiontakenasaresultofusingorrelyingontheinTheviewsexpressedintheWorldOilOutlookarethoseoftheOPECSecretariatanddonotnecessarilyreflecttheviewsofitsentitiesintheWorldOilOutlook,andtheuseandpresentationofdataandothermaterials,donotimplytheexpressionofanstatusofanycountry,territoryorarea,orofitsauthorities,orconcerningtheexploration,exploitation,refining,marketinganconstruedasinterpretingormodifyinganylegalobligationsunderanyagreement,treaty,laworothertexts;orexpressingany20212025012345mb/dOilOutlookisforinformationalpurposesonlyandisneitherintendedasasubstituteforadvicefrombusiness,finance,chmarkofanykind.Whilstreasonableeffortshavebeenmadetoensuretheaccuracyoftheinformationcontainedintheelevanceorcomprehensiveness,andassumesnoliabilityorresponsibilityforanyinaccuracy,errororomission,orforanyofusingorrelyingontheinformationintheWorldOilOutlook.rilyreflecttheviewsofitsgoverningbodiesand/orindividualOPECMemberCountries.ThedesignationofgeographicalmplytheexpressionofanyopinionwhatsoeveronthepartofOPECand/oritsMemberCountriesconcerningthelegalon,refining,marketingandutilizationofitspetroleumorotherenergyresources.NothingintheWorldOilOutlookshallbeertexts;orexpressinganylegalopinionsorhavingprobativelegalvalueinanyproceedings.202120252030203520402045012345111213141516Asia-PacificEuropeLatinAmericaUS&Canada-localuse[RHS]mb/dlocaluse,mb/dFigure6.11CrudeandcondensateimportstotheUS&Canadabyorigin,2021–2045mb/dSource:OPEC202120252030203520402045LatinAmerica1.181.501.762.092.372.14Africa0.380.220.370.060.090.06Europe0.040.000.000.000.000.00Russia&Caspian0.230.000.000.000.000.00MiddleEast0.651.480.630.710.970.63Totalsmaynotaddupduetorounding.©2022OrganizationofthePetroleumExportingCountriesDisclaimer:Thedata,analysisandanyotherinformation(the“information”)containedintheWorldOilOutlookisforinformaotherprofessional;norismeanttobeabenchmarkorinputdatatoabenchmarkofanykind.Whilstreasonableeffortshavebwarrantiesorrepresentationsastoitsaccuracy,relevanceorcomprehensiveness,andassumesnoliabilityorresponsibilityfodecisiontakenasaresultofusingorrelyingontheinformationintheWorldOilOutlook.TheviewsexpressedintheWorldOilOutlookarethoseoftheOPECSecretariatanddonotnecessarilyreflecttheviewsofitsOutlook,andtheuseandpresentationofdataandothermaterials,donotimplytheexpressionofanyopinionwhatsoeveronauthorities,orconcerningtheexploration,exploitation,refining,marketingandutilizationofitspetroleumorotherenergyresagreement,treaty,laworothertexts;orexpressinganylegalopinionsorhavingprobativelegalvalueinanyproceedings.heWorldOilOutlookisforinformationalpurposesonlyandisneitherintendedasasubstituteforadvicefrombusiness,finance,investmed.WhilstreasonableeffortshavebeenmadetoensuretheaccuracyoftheinformationcontainedintheWorldOilOutlook,theOPECSecmesnoliabilityorresponsibilityforanyinaccuracy,errororomission,orforanylossordamagearisinginconnectionwithorattributabletnecessarilyreflecttheviewsofitsgoverningbodiesand/orindividualOPECMemberCountries.ThedesignationofgeographicalentitiesinsionofanyopinionwhatsoeveronthepartofOPECand/oritsMemberCountriesconcerningthelegalstatusofanycountry,territoryorafitspetroleumorotherenergyresources.NothingintheWorldOilOutlookshallbeconstruedasinterpretingormodifyinganylegalobligegalvalueinanyproceedings.2021202520302035204020450.00.51.01.52.02.53.03.54.0MiddleEastRussia&CaspianEuropeAfricaLatinAmericamb/diness,finance,investmentconsultantorlOutlook,theOPECSecretariatmakesnotionwithorattributabletoanyactionorfgeographicalentitiesintheWorldOilnycountry,territoryorarea,orofitsmodifyinganylegalobligationsunderanyFigure6.12CrudeandcondensateimportstoEuropebyorigin,2021–2045mb/dSource:OPEC202120252030203520402045US&Canada1.130.990.280.330.600.27LatinAmerica0.270.000.510.350.690.57Africa2.042.953.052.682.141.52Russia&Caspian3.492.051.912.132.091.98MiddleEast1.322.402.042.401.652.27Totalsmaynotaddupduetorounding.©2022OrganizationofthePetroleumExportingCountriesDisclaimer:Thedata,analysisandanyotherinformation(the“information”)containedintheWorldOilOutlookisforinformaorotherprofessional;norismeanttobeabenchmarkorinputdatatoabenchmarkofanykind.Whilstreasonableeffortshavmakesnowarrantiesorrepresentationsastoitsaccuracy,relevanceorcomprehensiveness,andassumesnoliabilityorresponanyactionordecisiontakenasaresultofusingorrelyingontheinformationintheWorldOilOutlook.TheviewsexpressedintheWorldOilOutlookarethoseoftheOPECSecretariatanddonotnecessarilyreflecttheviewsofitsOutlook,andtheuseandpresentationofdataandothermaterials,donotimplytheexpressionofanyopinionwhatsoeveronauthorities,orconcerningtheexploration,exploitation,refining,marketingandutilizationofitspetroleumorotherenergyresanyagreement,treaty,laworothertexts;orexpressinganylegalopinionsorhavingprobativelegalvalueinanyproceedings.20210123456789mb/drldOilOutlookisforinformationalpurposesonlyandisneitherintendedasasubstituteforadvicefrombusiness,finance,investmentconWhilstreasonableeffortshavebeenmadetoensuretheaccuracyoftheinformationcontainedintheWorldOilOutlook,theOPECSecretaassumesnoliabilityorresponsibilityforanyinaccuracy,errororomission,orforanylossordamagearisinginconnectionwithorattributaook.sarilyreflecttheviewsofitsgoverningbodiesand/orindividualOPECMemberCountries.ThedesignationofgeographicalentitiesintheWfanyopinionwhatsoeveronthepartofOPECand/oritsMemberCountriesconcerningthelegalstatusofanycountry,territoryorarea,oretroleumorotherenergyresources.NothingintheWorldOilOutlookshallbeconstruedasinterpretingormodifyinganylegalobligationsalvalueinanyproceedings.2021202520302035204020450123456789MiddleEastRussia&CaspianAfricaLatinAmericaUS&Canadamb/dfinance,investmentconsultantutlook,theOPECSecretariatnectionwithorattributabletoraphicalentitiesintheWorldOilntry,territoryorarea,orofitsinganylegalobligationsunderFigure6.13CrudeandcondensateimportstoAsia-Pacificbyorigin,2021–2045mb/dSource:OPEC202120252030203520402045US&Canada1.443.163.963.292.211.81LatinAmerica1.942.972.723.212.642.74Africa2.871.761.581.702.242.43Europe0.560.000.000.000.000.00Russia&Caspian2.272.893.663.733.603.64MiddleEast13.4514.5715.3616.1718.3319.52Totalsmaynotaddupduetorounding.©2022OrganizationofthePetroleumExportingCountriesDisclaimer:Thedata,analysisandanyotherinformation(the“information”)containedintheWorldOilOutlookisforinformaorotherprofessional;norismeanttobeabenchmarkorinputdatatoabenchmarkofanykind.Whilstreasonableeffortshavmakesnowarrantiesorrepresentationsastoitsaccuracy,relevanceorcomprehensiveness,andassumesnoliabilityorresponanyactionordecisiontakenasaresultofusingorrelyingontheinformationintheWorldOilOutlook.TheviewsexpressedintheWorldOilOutlookarethoseoftheOPECSecretariatanddonotnecessarilyreflecttheviewsofitsOutlook,andtheuseandpresentationofdataandothermaterials,donotimplytheexpressionofanyopinionwhatsoeveronauthorities,orconcerningtheexploration,exploitation,refining,marketingandutilizationofitspetroleumorotherenergyresanyagreement,treaty,laworothertexts;orexpressinganylegalopinionsorhavingprobativelegalvalueinanyproceedings.orldOilOutlookisforinformationalpurposesonlyandisneitherintendedasasubstituteforadvicefrombusiness,finance,investmentcoWhilstreasonableeffortshavebeenmadetoensuretheaccuracyoftheinformationcontainedintheWorldOilOutlook,theOPECSecretassumesnoliabilityorresponsibilityforanyinaccuracy,errororomission,orforanylossordamagearisinginconnectionwithorattributatlook.ssarilyreflecttheviewsofitsgoverningbodiesand/orindividualOPECMemberCountries.ThedesignationofgeographicalentitiesintheWofanyopinionwhatsoeveronthepartofOPECand/oritsMemberCountriesconcerningthelegalstatusofanycountry,territoryorarea,opetroleumorotherenergyresources.NothingintheWorldOilOutlookshallbeconstruedasinterpretingormodifyinganylegalobligationgalvalueinanyproceedings.20212025203020352040204505101520253035MiddleEastRussia&CaspianEuropeAfricaLatinAmericaUS&Canadamb/d,finance,investmentconsultantutlook,theOPECSecretariatnnectionwithorattributabletographicalentitiesintheWorldOiluntry,territoryorarea,orofitsyinganylegalobligationsunderFigure6.14Regionalnetcrudeandcondensateimports,2021,2025,2035and2045mb/dSource:OPECUS&CanadaLatinAmericaAfricaEuropeMiddleEast2021-0.27-3.03-5.187.63-6.00-15.662025-1.45-3.40-4.768.39-5.27-18.872035-1.04-5.31-4.277.89-5.86-19.5020450.50-5.48-3.426.61-5.62-22.74Totalsmaynotaddupduetorounding.©2022OrganizationofthePetroleumExportingCountriesRussia&CaspianDisclaimer:Thedata,analysisandanyotherinformation(the“information”)containedintheWorldOilOutlookisforinformaismeanttobeabenchmarkorinputdatatoabenchmarkofanykind.Whilstreasonableeffortshavebeenmadetoensurethaccuracy,relevanceorcomprehensiveness,andassumesnoliabilityorresponsibilityforanyinaccuracy,errororomission,orfinformationintheWorldOilOutlook.TheviewsexpressedintheWorldOilOutlookarethoseoftheOPECSecretariatanddonotnecessarilyreflecttheviewsofitsandpresentationofdataandothermaterials,donotimplytheexpressionofanyopinionwhatsoeveronthepartofOPECandexploitation,refining,marketingandutilizationofitspetroleumorotherenergyresources.NothingintheWorldOilOutlooksopinionsorhavingprobativelegalvalueinanyproceedings.China10.4012.1110.6714.6912.1415.9612.3617.78OtherAsia-PacificeWorldOilOutlookisforinformationalpurposesonlyandisneitherintendedasasubstituteforadvicefrombusiness,finance,investmenrtshavebeenmadetoensuretheaccuracyoftheinformationcontainedintheWorldOilOutlook,theOPECSecretariatmakesnowarrannaccuracy,errororomission,orforanylossordamagearisinginconnectionwithorattributabletoanyactionordecisiontakenasaresulecessarilyreflecttheviewsofitsgoverningbodiesand/orindividualOPECMemberCountries.ThedesignationofgeographicalentitiesintatsoeveronthepartofOPECand/oritsMemberCountriesconcerningthelegalstatusofanycountry,territoryorarea,orofitsauthoritieothingintheWorldOilOutlookshallbeconstruedasinterpretingormodifyinganylegalobligationsunderanyagreement,treaty,laworoUS&CanadaLatinAmericaAfricaEuropeRussia&CaspianMiddleEastChinaOthP-25-20-15-10-5051015202021202520352045mb/dbusiness,finance,investmentconsultantorotherprofessional;norSecretariatmakesnowarrantiesorrepresentationsastoitsnordecisiontakenasaresultofusingorrelyingonthenofgeographicalentitiesintheWorldOilOutlook,andtheuseryorarea,orofitsauthorities,orconcerningtheexploration,nyagreement,treaty,laworothertexts;orexpressinganylegal&MiddleEastChinaOtherAsia-PacificFigure6.15Regionalnetproductimports,2025,2035and2045mb/dSource:OPECUS&CanadaLatinAmericaAfricaEuropeMiddleEast2025-3.952.301.601.44-3.87-2.862035-5.992.871.500.75-3.27-2.982045-6.962.962.280.03-3.30-3.62Totalsmaynotaddupduetorounding.©2022OrganizationofthePetroleumExportingCountriesRussia&CaspianDisclaimer:Thedata,analysisandanyotherinformation(the“information”)containedintheWorldOilOutlookisforinformaprofessional;norismeanttobeabenchmarkorinputdatatoabenchmarkofanykind.Whilstreasonableeffortshavebeenmrepresentationsastoitsaccuracy,relevanceorcomprehensiveness,andassumesnoliabilityorresponsibilityforanyinaccuraresultofusingorrelyingontheinformationintheWorldOilOutlook.TheviewsexpressedintheWorldOilOutlookarethoseoftheOPECSecretariatanddonotnecessarilyreflecttheviewsofitsandtheuseandpresentationofdataandothermaterials,donotimplytheexpressionofanyopinionwhatsoeveronthepartconcerningtheexploration,exploitation,refining,marketingandutilizationofitspetroleumorotherenergyresources.Nothinorothertexts;orexpressinganylegalopinionsorhavingprobativelegalvalueinanyproceedings.Asia-Pacific5.337.128.61eWorldOilOutlookisforinformationalpurposesonlyandisneitherintendedasasubstituteforadvicefrombusiness,finance,investmenstreasonableeffortshavebeenmadetoensuretheaccuracyoftheinformationcontainedintheWorldOilOutlook,theOPECSecretariatorresponsibilityforanyinaccuracy,errororomission,orforanylossordamagearisinginconnectionwithorattributabletoanyactionorecessarilyreflecttheviewsofitsgoverningbodiesand/orindividualOPECMemberCountries.ThedesignationofgeographicalentitiesintopinionwhatsoeveronthepartofOPECand/oritsMemberCountriesconcerningthelegalstatusofanycountry,territoryorarea,orofiorotherenergyresources.NothingintheWorldOilOutlookshallbeconstruedasinterpretingormodifyinganylegalobligationsunderanyings.US&CanadaLatinAmer-icaAfricaEuropeRussia&CaspianMiddleEastAsia-Pacific-8-6-4-20246810202520352045mb/dombusiness,finance,investmentconsultantorotherilOutlook,theOPECSecretariatmakesnowarrantiesorhorattributabletoanyactionordecisiontakenasaationofgeographicalentitiesintheWorldOilOutlook,country,territoryorarea,orofitsauthorities,organylegalobligationsunderanyagreement,treaty,law&MiddleEastAsia-Pacific