The International Olive Oil Council (IOC) reports that climate change, specifically heat waves and water scarcity, has negatively impacted olive oil production in the Mediterranean, particularly in Spain, which accounts for 40% of global production. This has led to a decrease in consumption in the Mediterranean and the European Union, while countries like the United States, Canada, China, Japan, and Australia have been less affected. Despite these challenges, global olive oil production remains steady at around 3 million tons annually, which is 2% of the world's vegetable oil production.