Download open bve indonesia 20189/21/2023 US Henry Hub prices nearly doubled to average $3.84/mmBtu in 2021 - their highest annual level since 2014. Natural gas prices rebounded strongly across all three major gas regions in 2021, rising fourfold to record annual levels in Europe (TTF averaging $16.02/mmBtu) and tripling in the Asian LNG spot market (JKM averaging $18.60/mmBtu).As a result, refining capacity in the OECD in 2021 was at its lowest level since 1998. Refinery capacity declined for the first time in over 30 years by almost 500,000 b/d last year, driven by a sharp reduction in the OECD (1.1 million b/d).Among all countries, Libya (840,000 b/d), Iran (540,000 b/d) and Canada (300,000 b/d) saw the largest increases. Global oil production increased by 1.4 million b/d in 2021, with OPEC+ accounting for more than three-quarters of the increase.Regionally, most of the growth took place in the US (1.5 million b/d), China (1.3 million b/d) and the EU (570,000 b/d).
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