Author Topic: The U.S. Accounted For 98% Of Global Oil Production Growth In 2018  (Read 598 times)

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Offline thackney

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The U.S. Accounted For 98% Of Global Oil Production Growth In 2018
https://www.forbes.com/sites/rrapier/2019/06/23/the-u-s-accounted-for-98-of-global-oil-production-growth-in-2018/#3bb4b0351251

...For 2018, the Review reported that the world set a new oil consumption record of 99.8 million BPD, which is the ninth straight year global oil demand has increased. Oil demand in 2018 grew by 1.5%, ahead of the decade-long average of 1.2%. On the other hand, 2018 demand growth of 1.4 million BPD marked the third consecutive year oil demand growth has fallen.

The United States remains the world's top oil consumer, averaging 20.5 million BPD in 2018. China was second at 13.5 million BPD, although this would be far below the U.S. in per capita consumption. India was third at 5.2 million BPD. Both China and India have averaged oil consumption growth of at least 5% per year over the past decade....

...The Review also reported a new global oil production record in 2018 of 94.7 million BPD,1 an increase of 2.22 million BPD over the previous year.

The U.S. extended its lead as the world's top oil producer to a record 15.3 million BPD.2 In addition, the U.S. led all countries in increasing production over the previous year, with a gain of 2.18 million BPD (equal to 98% of the total of global additions)....
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