The oil and gas industry has brought in over a trillion U.S. dollars in annual profits for much of the past decade. Despite a decrease in 2020 when the coronavirus pandemic reduced fuel demand, oil & gas profits have remained high. A peak of over 2.5 trillion U.S. dollars was reported in 2008, 2011 and 2012. The figures reflect profits less costs of production and translate into 2.8 billion U.S. dollars of daily profits over the past 50 years.
Estimated total profits of the oil and gas industry worldwide from 1970 to 2020
(in trillion U.S. dollars)
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Statista. (July 21, 2022). Estimated total profits of the oil and gas industry worldwide from 1970 to 2020 (in trillion U.S. dollars) [Graph]. In Statista. Retrieved November 14, 2024, from https://www.statista.com/statistics/1325507/oil-and-gas-industry-profits-worldwide/
Statista. "Estimated total profits of the oil and gas industry worldwide from 1970 to 2020 (in trillion U.S. dollars)." Chart. July 21, 2022. Statista. Accessed November 14, 2024. https://www.statista.com/statistics/1325507/oil-and-gas-industry-profits-worldwide/
Statista. (2022). Estimated total profits of the oil and gas industry worldwide from 1970 to 2020 (in trillion U.S. dollars). Statista. Statista Inc.. Accessed: November 14, 2024. https://www.statista.com/statistics/1325507/oil-and-gas-industry-profits-worldwide/
Statista. "Estimated Total Profits of The Oil and Gas Industry Worldwide from 1970 to 2020 (in Trillion U.S. Dollars)." Statista, Statista Inc., 21 Jul 2022, https://www.statista.com/statistics/1325507/oil-and-gas-industry-profits-worldwide/
Statista, Estimated total profits of the oil and gas industry worldwide from 1970 to 2020 (in trillion U.S. dollars) Statista, https://www.statista.com/statistics/1325507/oil-and-gas-industry-profits-worldwide/ (last visited November 14, 2024)
Estimated total profits of the oil and gas industry worldwide from 1970 to 2020 (in trillion U.S. dollars) [Graph], Statista, July 21, 2022. [Online]. Available: https://www.statista.com/statistics/1325507/oil-and-gas-industry-profits-worldwide/
