Romania produced, in the first seven months of 2023, a quantity of crude oil of 1.636 million tons of oil equivalent (toe), 73,700 toe less (-4.3%) compared to the same period last year, according to centralized data by the National Institute of Statistics (INS).

Crude oil imports rose, in the January-July 2023 period, to 4.42 million toe, being 332,800 toe (-7%) below those recorded in the first seven months of 2022.

According to the latest Energy Balance Forecast, published by CNSP, crude oil production is expected in 2023 at 3.050 million tons of oil equivalent (minus 2.3% compared to 2022), according to Agerpres.

The National Strategy and Forecasting Commission indicates that Romania’s crude oil production will be on a downward trajectory in the period 2023-2026, with an average annual rate of -2.2%, a consequence of the natural decline of deposits and the maintenance of existing production units .

Thus, in 2024 it will be 2.98 million toe (minus 2.3% compared to the previous year), in 2025 to 2.91 million toe (minus 2.3%) and in 2026 to 2.855 million toe (minus 2%).

On the other hand, the import of crude oil will increase during the mentioned period with an average annual rate of 4.1%.