The database is subject to the IEA’s Terms and Conditions, available at https://www.iea.org/terms. This report includes the latest monthly data on oil production for all OECD member countries, and imports, exports, refinery outputs, and net deliveries for major product categories for all OECD regions. It also includes total oil stock levels and stock changes for major product categories for all OECD member countries.

Global oil production by month varies depending on several factors, including demand, geopolitical events, and changes in oil prices. This article highlights the importance of monitoring global oil production and provides insights into recent trends and fluctuations. It emphasizes the role of the International Energy Agency (IEA) in tracking and reporting production levels. The article also mentions specific data for January, February, March, April, and May 2021, showcasing the increase and decrease in glob

The global demand for crude oil (including biofuels) in 2024 amounted to 103.75 million barrels per day. The source expects economic activity and related oil demand to pick up by the end of the year, with forecast suggesting it could increase to more than 105 million barrels per day. Motor fuels make up majority of oil demand Oil is an important and versatile substance, used in different ways and in different forms for many applications. The road sector is the largest oil consuming sector worldwide. It accounts for nearly one half of the global demand for oil, largely due to reliance on motor spirits made from petroleum. The OPEC projects global oil product demand to reach 120 million barrels per day by 2050, with transportation fuels such as gasoline and diesel expected to remain the most consumed products. Diesel and gasoil demand is forecast to amount to 32.5 million barrels per day in 2050, up from 29 million barrels in 2023. Gasoline demand is forecast at 27 million barrels by 2050. Differences in forecast oil demand widen between major energy institutions Despite oil producing bodies such as the OPEC seeing continued importance for crude oil in the future, other forecast centers have been more moderate in their demand outlooks. For example, between the EIA, IEA, and OPEC, the latter was the only one to expect significant growth for oil demand until 2030.

According to Cognitive Market Research, the global Process Simulation Software in Oil Gas market size will be USD 1254.8 million in 2025. It will expand at a compound annual growth rate (CAGR) of 6.00% from 2025 to 2033.

North America held the major market share for more than 40% of the global revenue with a market size of USD 464.28 million in 2025 and will grow at a compound annual growth rate (CAGR) of 4.8% from 2025 to 2033.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 363.89 million.
APAC held a market share of around 23% of the global revenue with a market size of USD 301.15 million in 2025 and will grow at a compound annual growth rate (CAGR) of 8.5% from 2025 to 2033.
South America has a market share of more than 5% of the global revenue with a market size of USD 47.68 million in 2025 and will grow at a compound annual growth rate (CAGR) of 6.3% from 2025 to 2033.
Middle East had a market share of around 2% of the global revenue and was estimated at a market size of USD 50.19 million in 2025 and will grow at a compound annual growth rate (CAGR) of 6.5% from 2025 to 2033.
Africa had a market share of around 1% of the global revenue and was estimated at a market size of USD 27.61 million in 2025 and will grow at a compound annual growth rate (CAGR) of 5.7% from 2025 to 2033.
Software category is the fastest growing segment of the Process Simulation Software in Oil Gas industry

Market Dynamics of Process Simulation Software in Oil Gas Market

Key Drivers for Process Simulation Software in Oil Gas Market

Growing Global Energy Consumption to Boost Market Growth

The global demand for energy is rapidly increasing due to urbanization, industrialization, and population growth, particularly in emerging economies like China, India, and Southeast Asia. The International Energy Agency (IEA) projects that global energy demand will rise by over 25% by 2040. In 2023, global energy consumption grew by 2.2%, exceeding its historical trend, driven by a 5.1% increase in the BRICS nations, which accounted for 42% of global energy consumption. Energy consumption surged in China (+6.6%, twice its 2010–2019 average), increased in India (+5.1%, slightly above the historical average), and accelerated in Brazil (+3.3%, compared to +0.9% per year over 2010–2019). Oil and gas remain critical to the global energy mix despite the growing adoption of renewable energy sources. To meet rising energy needs, oil and gas companies are increasing investments in offshore drilling and unconventional sources such as shale gas and oil sands. Process simulation software helps companies simulate complex scenarios, optimize drilling plans, and reduce operational risks. The increasing complexity of offshore and unconventional exploration is driving demand for advanced simulation tools to improve accuracy and efficiency.

https://yearbook.enerdata.net/total-energy/world-consumption-statistics.html//./

Increasing Investments in Refinery and Petrochemical Infrastructure to Boost Market Growth

The global rise in demand for petrochemical products, such as plastics, lubricants, and synthetic fibers, is driving increased investments in new refinery projects. According to recent data from the Petroleum Supply Monthly, U.S. ethane production, consumption, and exports reached record highs in 2024, driven by increased ethane recovery from natural gas production and continued growth in the domestic and global petrochemical sectors. U.S. ethane production rose by 7% to a record average of 2.8 million barrels per day (b/d) in 2024, primarily due to increased ethane recovery in the Permian Basin. Most ethane in the United States is recovered at natural gas processing plants, where ethane and other natural gas plant liquids (NGPL) are separated from raw natural gas. The Texas Inland and New Mexico refining districts, which cover the Permian Basin, accounted for 63% of total U.S. ethane production in 2024, up from 61% in 2023, with production in these districts averaging 1.8 million b/d, a 9% increase from 2023. Simulation software plays a key role in optimizing refinery design and operation, improving yield, and reducing processing costs. It allows engineers to test new process configurations and identify the most cost-effective production strategies. In the petrochemical sector, simulation software helps test different feedstock options, optimize catalytic rea...