Global oil consumption on steady increase

Jul 28, 2016

Despite global efforts to reduce greenhouse gases, the world’s oil consumption is steadily increasing, according to an energy review by British Petroleum.

The report said the global oil consumption per day on average stood at 95 million barrels last year, a 2 percent increase from the previous year and 3.2 percent higher than 2013.

The U.S. and China took a combined share of nearly one-third of global oil consumption. South Korea ranked eighth in the world.

Analysts said some advanced countries including Japan are reducing their oil consumption, but China and other emerging countries are consuming more oil.

Source: THE HERALD