Daily crude oil production in Qatar 2010-2023

As of 2021, Qatar produced around 550 thousand barrels of crude oil per day, a decrease from 788 thousand barrels per day in 2010. As of 2017, Qatar economically diversified from crude oil and is now one of the leading gas exporters worldwide.

Qatar’s GDP 

The gross domestic product of Qatar has been on the rise after a decrease caused by the COVID-19 pandemic. Thus, Qatar’s GDP was expected to grow and reach over 267 billion U.S. dollars by 2028. In recent years, the share of oil rents in the GDP of Qatar declined and was recorded at around 11 percent in 2020.

Oil in the Middle East 

In 2021, the Middle East region was the largest producer of crude oil and accounted for over 30 percent of global oil production. In the same year, total oil production in the region increased by two percent. Similarly, the volume of crude oil exported from the region increased after a decline experienced during the COVID-19 pandemic.