# Transforming Petrochemical Processes: Cutting-Edge Advances in Kaolin Catalyst Fabrication
## 7 Kaolin in Petrochemical Catalysis: From Fundamentals to Innovations
### The Current Global Oil Landscape: Production Giants, Geopolitical Tensions, and Market Volatility
Nowadays, the reliance on Russian oil exports  
Figure 9: World oil production from 1990 to 2023 (in million metric tons) (139). continues to pose a significant challenge to the global economy. Russia, although not the top exporter, remains a crucial geopolitical supplier, pumping over 11 million barrels per day. The lack of readily available substitutes for Russian oil further complicates the situation, emphasizing the global market's vulnerability. In contrast, the United States has emerged as a major player more recently. Since 2010, U.S. petroleum exports have nearly quadrupled, surpassing Saudi Arabia's export volumes in 2021. In response to fluctuating market conditions, OPEC and its allies have extended their production cuts until 31 December 2025. These reductions, amounting to nearly 6% of global demand, set the collective production ceiling at 39.7 million barrels per day. The primary motivations for these cuts are to support oil prices and to stabilize the crude oil market amidst anticipated demand declines. However, this measure does not fully address the existing bottleneck in refining capacity. Recent studies by Wood Mackenzie indicate that over 20% of refining capacity may be at risk of closure due to diminishing gasoline margins and increasing pressure to reduce carbon dioxide emissions [144]. China has significantly expanded its refining capabilities, with the China Petroleum and Chemical Corporation (Sinopec) now operating one of the largest distillation capacities. Despite these advancements, the United States remains the leading oil refiner, processing more than 18 million barrels per day as of 2023 [139]. Figure 10: (**a**) Demand for crude oil worldwide from 2005 to 2023 [141]. (**b**) Leading oil-consuming countries worldwide in 2023 (in 1000 barrels per day) [142]. Regarding price volatility, the oil market has experienced significant price fluctuations (Figure 12a) due to a combination of factors, including the COVID-19 pandemic, sanctions on Russia, and geopolitical tensions in the Middle East, particularly the ongoing conflict between Gaza and Israel [145]. Indeed, the prices of derived oil products, such as gasoline and diesel, have also been impacted, varying according to the country (Figure 12b) [146]. In January 2022, the spot prices for key crude oils (OPEC, Brent, and WTI) were around USD 85 per barrel. However, prices surged to as high as USD 140 per barrel within the next six months. More recently, in January 2024, the prices of these key benchmarks had fallen below USD 90 per barrel, reflecting a complex and shifting market landscape. Nonetheless, ongoing regional conflicts suggest that prices may rise again by the end of the year. Figure 11: Leading crude oil and oil products exporters worldwide in 2022, by region or country (in 1000 barrels per day) [143]. Figure 12: (**a**) Average price of Brent, OPEC, and West Texas Intermediate (WTI) crude oil from January 2020 to April 2024 (in dollars per barrel) [145]. (**b**) Average price per liter of gasoline and diesel (gasoil) in certain countries as of October 2023 (in dollars per liter USD) [146]. In turbulent times, oil companies often emerge as significant beneficiaries (Figure 13) [147]. For instance, ExxonMobil reported a net profit of USD 11.4 billion between January and March 2023, more than double its earnings from the same period in 2022. This pattern of increased profitability, although less pronounced, is mirrored by other major industry players such as Shell, Chevron, and TotalEnergies. In summary, the global oil industry is characterized by high production levels, complex geopolitical dynamics, and significant economic impacts. The interplay between supply and demand, refining capacity constraints, and geopolitical tensions continues to shape the industry's trajectory and profitability.