Amazing indy and crew,
I have a question about oil producing countries.
Why we dont hear today nothing about the oil from Indonesia?
Because that was the reason of the Japanese army tot invaded The Dutch East Indies.
Is it gone or they are a small player in de oil market.
I know only The middle east Venezuela,USA,Nigeria, Equatorial Guinea,Russia, Norway are producing a lot of oil today.
Never heard about Romania,Hungary,Indonesia,producing oil besides ww2.
Best regards from Juan.
Indonesia no longer exports oil; their domestic market overtook their surplus in 2000. However, oil exports had been decreasing since 1970 due to increasing demand. Their had also been underinvestment in oil production do they could produce more.
The only have a similar story to the US in which domestic demand overtook supply.
Romanian production has been in decline since 1970 due to field exhaustion. There’s not so much oil to extract with present technology.
When looking at oil statistics though its often better to look at demand rather than supply; supply gets massaged for political reasons much more often.
What about Hungary? Juan also mentioned that.
@NormanStewart In 2021, Hungary produces an average of only 35,000 bbl/d. This is about 0.5% of what the State of Texas produced that year.
Bottom line is that the Hungarian oil fields are depleted/used up, like all oil fields eventually.
A good resource for oil production data is the US EIA website, for example International - U.S. Energy Information Administration (EIA)