Oil Production and Consumption by Country

oil production and consumption since 1965When it comes to oil production and consumption, countries have a very close relationship of interdependence with each other. Some countries consume more oil than what they produce relying on imports to satisfy their internal demand. Others, consume less than what they produce, being able to export oil to nations that need it.

Oil consumption (yellow) for the United States, for example, was larger than its production (grey) for 2012, 18.55 mb/d (million barrels per day) compared to 8.9 mb/d, importing more than double its production to satisfy the gap in internal demand. Other nations with oil consumption higher that oil production include China, Brazil, Australia, India, UK, and Indonesia.

In contrast, oil consumption for Saudi Arabia for 2012 is estimated at 2.94 mb/d, while its production reached 11.53 md/d, exporting its oil surplus to the rest of the world. Other nations whose oil production exceeds its oil consumption include Canada, Mexico, Venezuela, Norway, Russia, Kuwait, United Arab Emirates, and Qatar.

Source: Winston Smith Labs: Global Oil Production and Consumption since 1965 [Interactive Map/Graph]

 

Crude Oil Exports and Imports by Country

crude net balance by countryVast quantities of crude oil are exported and imported each year. Some countries are net exporters (their oil exports are larger than their oil imports), and some are net importers (their oil imports are larger than their exports).

In this visualization by Data Driven Consulting, we can see that the United States was the largest net importer of crude oil in 2009. Other net importer countries include China, India, Japan, South Korea, Germany, Belgium, Italy, UK, Spain, Singapore, and Australia.

Among the net exporters of crude oil we find Russia, Saudi Arabia, Iran, Iraq, Norway, Venezuela, Mexico, and Canada.

For the full-size interactive dashboard, visit: Tableau Public: Exporters and Importers