Data from the US Energy Information Administration revealed that the United Kingdom played an important role in the field of energy within the countries of the Organization for Economic Cooperation and Development in Europe during the year 2022. It accounted for 14% of energy production and 10% of its consumption.

While the UK’s proven oil reserves were 1.5 billion barrels and natural gas reserves were 4.6 trillion cubic feet at the beginning of this year, trends point to a decline in production and consumption of both oil and natural gas over the past two decades.

This decline is due to aging oil fields and a shift in government policy towards reducing dependence on fossil fuels.

In 2023, the average production of crude oil and other liquids will reach 794 thousand barrels per day, which represents only 27% of the peak production recorded in 1999 of 3 million barrels per day.

In contrast, oil consumption in the United Kingdom will reach 1.4 million barrels per day in 2023, equivalent to 78% of its consumption level in 1999.

The UK is also seeing a decline in natural gas production. It reached 1.3 trillion cubic feet in 2022, down from its peak of 4.1 trillion cubic feet in 2000. The country’s natural gas consumption also fell to 2.5 trillion cubic feet.