This entry is the total oil consumed in barrels per day (bbl/day). The discrepancy between the amount of oil produced and/or imported and the amount consumed and/or exported is due to the omission of stock changes, refinery gains, and other complicating factors.
DEFINITION: This entry is the total oil consumed in barrels per day (bbl/day). The discrepancy between the amount of oil produced and/or imported and the amount consumed and/or exported is due to the omission of stock changes, refinery gains, and other complicating factors.
Since the mid 2000s exploration and production have attracted massive investment and we are seeing the payoff today in areas like the Bakken Shale, the Marcellus Shale, Canadian oil sands, and massive new fields in Africa and parts of Russia. Add to this new sources of natural gas and the incremental growth of dedicated sources link wind, solar, and geothermal.
Meanwhile, knock on wood, the geo-political risks in Iran appear to be waning, and volitale middle eastern producers are becoming less relevant and less able to inflict monopoly pricing on the rest of the world.
Moreover, slowing global development pressure appears to be affecting the macro basis for high oil price maintenance.
Infrastructure investment in transmission, storage, and distribution of nat gas is killing coal much more effectively that the Kyoto Protocals. It is also beginning to provide alternatives to oil for power production. LNG prices at about $20 per equivalent against oil at the high eighties.
My point is that oil is a classic "tipping point" commodity, and if the equations continue to work against pricing power, I suspect we are looking at a basis price in the $50.00 range.
I suspect the real economic forces within the global, regional, and natrional economies are infinitely more compeling than cheer leading by regulators.
Not a staff editor 28th March 2011
Interesting reading all this stuff... when you know that your supply is running out and demand continues to grow, the price follows the demand and continues going upwards as well. Somehow, with all the subsidies given to the people of the countries that produce oil, the price of oil is actually far lower than what it should be... The best way to reduce oil usage Kyoto Protocal and Carbon Credit Trading dimwits is to raise the price of oil to what it should be, put a global oil tax which all countries must pay, remove all subsidies related to oil, and ration the amount produced going forward. Perfect scenario to drive the need for alternate energy and related products that would be less harmful environmentally. Fact is, people the world over need to be forced to reduce the consumption of oil. Then again, people's habits don't change quickly so govts need to actively promote use of products and services that are supported by alternate energy... even a simple thing as high subsidies on electric vehicles and 300% taxes on conventional fuel vehicles will force people shift... high subsidies and support for alternate energy production companies like Ecotricity to provide power while heavily taxing conventional coal power plants and others that are more polluting. But no, we have it in our hands and yet the govts of this world will continue doing what they've done always. Most of the terrorists in this world come from oil producing nations. Most of the world's troubled zones lie in oil producing nations. If we move away from using oil, then who will fund these troubled societies that harbour terrorists? America is a perfect example of a country that not only goes and fights other's wars in the name of its own security but encourages its public to live on money that they don't have and continue guzzle up some 25% of the world's oil production everyday... the problem is, China wants to be America; India wants to be America; Brazil wants to be America; forget the European Union - they like to consume but not work... so, if the world were to end up with China and India becoming similar to America, I seriously wonder what will happen. Problem is, China might get there in my lifetime and India will be close too... days I would rather not have during my living years as it'll sure as hell get nasty.
www 13th October 2010
you ppl do realise that this is in 2007 Saudi Arabia is now producing the most oil. The us is only producing 2% of all oil in the world but is using 25% of it thats horrible and almost all countries including USA have reached their peak and now are on a decline in oil..
Concerned for USA schooling 20th June 2010
If the well is leaking 8000 barrels / second then that is only 8 times the whole global daily usage from the table above.
The reality is the US is so oil dependent that at the current estimate of the leak at between 35,000-50,000 bbl/day the leaking accounts for at maximum 0.25% of US daily oil consumption. It is so to speak a drop in the ocean and such disasters are inevitable given the USA's insatiable demand and love of oil for the vast, vast majority of it's history.
I can see that we seem to be worried over availability of oil and carbon emission only. What about the diminishing earth size? I am neither a Mathematician nor a Scientist but let me ask this: If a earth has a diameter of 13,000kms and we are pumping out 62.1 million barrels or 9.9 Billion litres per day(3.6 Trillion litres per year) What impact is this volume of oil drained from earth having on earth? Tsunamis? Earthquakes, Losing land to the rising sea level? I bet oil profits is also delaying the "full implementation of the electric & hydrogen car". Could Avarice be the main problem? When earth is gone what are we going to do with the profits?
Buttsford (OC, Califorina) 4th March 2009
your site is good i like it it help me in my homework and haha go USA!!! woo top doggie
david Percival (Kenya, Nairobi) 20th February 2009
The world recession has provided a once off opportunity. The current price of oil is aound 40$ a barrel. The sure way to reduce the use of fuels is to raise the price by putting a world tax on it to double the price. The revenue generated by the producing countries could then be applied to installing renewable alternatives. This would give a long lasting income to the countries who produce this oil, as they all realie that their income from this once off hit is going to run out with the oil. So we give them a future revenue stream from selling energy coming out of their investments in other countries where this tax is used to generate alernatives. If the current price was again increase today to 80$ a barrel, it would again reduce demand, potentially increasing the span of time till the oil runs out.
How on earth can we get everyone to see that this is a viable course, as I don't know how, but see it as a future possibility. dp
ray (California, USA) 24th October 2007
This chart only shows oil usage, not total energy use, and isn't adjusted for energy efficiency. If you look at how much contribution to GDP energy makes on a per BTU basis, the US looks considerably different.
Daniel Harwick 20th December 2005
There are no nations with names starting with T through Z on this list, yet the rankings are based on only the nations which appear. That's why the US isn't shown. Pardon my frankness, but this has to be the worst statistical coding I've ever seen.
21st August 2005
Why is US consumption left out?
Edria Murray Staff Editor 28th May 2005
The purpose of the Kyoto Protocol is to reduce emissions of carbon dioxide and other greenhouse gases regardless of how these emissions are produced. Countries which intend to maintain or increase their current level of emissions of these gases are able to engage in emissions trading with countries whose emission levels are lower that their quota (such as Australia and Iceland.)
The protocol only sets firm limits on developed or "Annex 1" countries. All developing countries are exempt from the requirements until they gain Annex 1 status. China, for example, which is currently exempted from the requirements of the protocol, is expected to become an Annex I country within the next decade. At that time the exemption will be lifted.
The reasons that no limits are placed on developing nations are:
Pollution is strongly linked to industrial growth and restricting pollution may restrict economic growth in these countries.
To prevent developing nations from selling emissions credits to industrialised nations to permit those nations to over-pollute.
These countries receive money and technologies from some developed countries.
The exemption of developing nations from the requirements of the protocol is controversial and is the main reason that the United States has not ratified the Kyoto Protocol.
Edria Murray Staff Editor 18th April 2005
In response to Ridiculous;
In 2004 South Korea consumed around 2.14 million barrels a day. This amounts to a per capita use of 44.3 barrels per 1000 people per day, a comparable usage rate to Australia.
Between 1980 and 2000, oil consumption in South Korea increased fourfold. South Korea has ratified the Kyoto Protocol to reduce emissions caused by the burning of fossil fuels, although it has not undertaken to meet specific targets.
South Korea was not included in the list above as this information has only recently become available to the source.
Ian Graham Staff Editor 29th March 2005
According to Al Jazeera, an International Energy Agency (IEA) report suggests that governments should cut back fuel consumption by encouraging car-pooling, cutting or eliminating bus and subway fares, and enforcing speed restrictions and compulsory driving bans.
The driving bans suggested include requiring everyone not to drive one day out of every 10, or limiting vehicles with odd- or even-numbered license plates to driving on odd- or even-numbered days.
The IEA study admits that enforcing such bans would require the hiring of additional police or traffic officers. They estimate that one additional officer would be required for every 100,000 employed people.
An emergency treaty of the IEA – the Agreement on an International Energy Program – would require member countries to reduce oil consumption by seven to 10 percent if activated. The world’s five biggest economies – United States, Japan, Germany, United Kingdom and France – are all members of the IEA.
Suchita Vemuri Staff Editor 23rd March 2005
Hi Michael, you're right. The EIA has estimated that demand for oil in the United States would reach 28.3 million barrels per day in 2025, with transportation demand projected to grow to 41.2 quadrillion Btu in 2025. It has projected that energy use for transportation in China would be 14.0 quadrillion Btu in 2025.
Edria Murray Staff editor 18th March 2005
In response to Ferngariby:
Emissions from the burning of fossil fuels contribute to acid rain, global warming and poor air quality. In turn, these are responsible for environmental damage and human health problems including aggravation of asthma, emphysema, bronchitis and existing heart disease and reducing the immune system response to inhaled micro organisms.
As a result of these concerns in December 1997 the Kyoto Protocol, which set limits for the emission of greenhouse gases was negotiated. In February 2005, 141 countries including the People's Republic of China had ratified the agreement. The United States has not ratified the protocol due to concern over some details, in particular that most provisions of the Kyoto protocol apply only to developed countries.
Suchita Vemuri Staff Writer 23rd February 2005
Hi Joseph, China's oil demand has been growing at an average 7% since 1990, and while it's now the second largest oil consumer after the USA, its consumption in 2004 was around six million barrels per day, against a little over 20 in the USA. But if the current trend continues, China's consumption is expected to equal that of the USA by the mid-2020s.