Indonesia's Oil Production Deficit Widens to 2024

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Viva Budy Kusnandar 14/07/2025 20:11 WIB

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For the past two decades, Indonesia's oil production has consistently fallen short of its consumption needs. This deficit is also projected to widen until 2024.

Indonesia's Oil Production and Consumption (1990-2024)

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Indonesia's Oil Production and Consumption (1990-2024)

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For the past two decades, Indonesia's oil production has consistently fallen short of its consumption needs, with the deficit widening over time.

According to the Statistical Review of World Energy, in 2024, Indonesia's oil consumption reached 1.63 million barrels per day, while production amounted to only 612 thousand barrels per day.

This resulted in an oil production deficit of approximately 1.02 million barrels per day throughout 2024, the largest deficit ever recorded in the Statistical Review of World Energy. Indonesia first recorded an oil production deficit in 2003, as shown in the graph.

With increasing fuel consumption and limited production, the Indonesian government has been importing large quantities of oil each year.

The following are the volumes of Indonesia's crude oil imports over the past five years:

2020: 10.51 million tons
2021: 13.78 million tons
2022: 15.26 million tons
2023: 17.84 million tons
2024: 16.86 million tons

The following are the volumes of Indonesia's imported oil products over the past five years:

2020: 20.79 million tons
2021: 21.93 million tons
2022: 25.7 million tons
2023: 27.37 million tons
2024: 36.89 million tons

Indonesia's proven oil reserves also decreased during the 2016-2020 period, with the following details:

2016: 3.3 billion barrels
2017: 3.2 billion barrels
2018: 3.2 billion barrels
2019: 2.5 billion barrels
2020: 2.4 billion barrels

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."