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[CHART] How Does U.S. Oil Consumption Compare to Other Countries?

This is a syndicated repost published with the permission of Money Morning - We Make Investing Profitable. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.

There were 92.1 million barrels of oil consumed around the world every day last year.

There were 92.1 million barrels of oil consumed around the world every single day in 2014. According to the BP Plc. (NYSE ADR: BP) Statistical Review of World Energy 2015, that’s up 0.8% from 2013.

But how does U.S. oil consumption compare to other industrialized nations?

This chart shows how the United States stacked up against other big time oil consumers in 2014…

9 9 15 u s  oil consumption

 

Daily U.S. oil consumption last year made up 81.5% of total North American consumption. That includes domestically produced crude oil refined and used as petroleum products like gasoline, diesel fuel, heating oil, and jet fuel.

In 2014, the United States used more oil than every European country combined. U.S. oil consumption was more than double that of South and Central America.

The only country close to keeping up with the United States has been China – the second-largest economy and largest country by population in the world. Chinese oil consumption has exploded in recent years, increasing 35% from 2009 to 2014. That smashes the United States’ 1.4% increase over the same period. Both are the only two nations to consume more than 10 million barrels a day last year.

Consumption is just one way in which the United States dominates the oil market. According to the U.S. Energy Information Administration (EIA), the U.S. also became the world’s leading producer last year.

This chart here shows how much the top oil-producing countries generated in 2014…

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The post [CHART] How Does U.S. Oil Consumption Compare to Other Countries? appeared first on Money Morning, Reposted with permission.

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