Romania produced, in the first semester of 2024, a quantity of crude oil of over 1.353 million tons of oil equivalent (toe), 53,200 toe less (-3.8%) than in the same period of the previous year, according to the data centralized by the National Institute of Statistics (INS).

Crude oil imports totaled, in the mentioned period, 3.376 million toe, being 707,300 toe below those recorded in January-June 2023 (-17.3%), according to Agerpres.

According to the latest Energy Balance Forecast, published by the National Strategy and Forecast Commission (CNSP), crude oil production would decrease until 2027 at an average annual rate of 2.5%.

Thus, in 2024, a quantity of crude oil of 2.82 million toe (minus 3.1% compared to 2023) will be extracted, in 2025 to 2.74 million toe (minus 2.8%), in 2026 to 2.68 million toe (minus 2.2%) and in 2027 of 2.63 million toe (minus 1.9%).

According to CNSP, this decrease will be the consequence of the natural decline of deposits and the maintenance of existing production units.

The import of crude oil will increase from 7.35 million toe in 2023 to 7.8 million toe in 2027, with an average annual rate of 1.5%. After a 13.7% decline forecast for 2024 to 6.34 million toe, imports will increase by 10.4% in 2025 to 7 million toe, by 7.4% in 2026 to 7.52 million toe , and by 7.8% in 2027.