Mapping Global Oil Consumption
As the world adjusts to lower oil prices and the attendant end of the petrodollar system that has served to underwrite decades of dollar dominace but which, thanks to geopolitics, lackluster demand, and a QE-assisted global supply glut, is now set to collapse, costing financial markets some $24 billion in monthly petrodollar liquidity, we bring you the following graphics which show who’s consuming the most, and where the growth is.
Consumption growth (2014):
US: +0.5%
China: +3.3%
Total consumption (2014):
From Bloomberg:
Saudi Arabia, the world’s seventh-largest oil consumer, ranked sixth among countries with the largest increase in oil consumption in 2014, according to the BP Statistical Review of World Energy 2015. Ukraine used 14.29 percent less oil in 2014 than in 2013, the biggest drop among the 65 countries included in BP’s energy consumption statistics.
The U.S. consumed the most oil of any nation in 2014. China, ranked second in oil use, consumed about four times as much coal as the U.S. and produced about three times as much hydro-electricity, making it the largest energy consumer in the world.
Source: http://silveristhenew.com/2015/06/12/mapping-global-oil-consumption/
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