June 9, 2011

World Oil Consumption Exceeds Production by 5 mbd in 2010

From the Economist, using figures from BP's recently released Statistical Review of World Energy: "In China alone consumption has risen by over 4m barrels per day in the past decade, accounting for two-fifths of the global rise. In 2010 consumption exceeded production by over 5m barrels per day for the first year ever, as world oil stocks were run down."

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