Global oil facts - statistics

At the end of 2009, there were 1333.1 billion barrels of proved oil reserves (this number doesn't include Canadian oil sands) according to the BP's Statistical Review of World Energy.

Russia is currently the world's largest oil producer. In 2009, Russia produced in average 9.93 million barrels of oil per day for a total of 494.2 million tons, which is around 12% of world's total oil production.

According to the data from IEA China is currently the world's largest oil consumer. In 2009 China consumed 2.252 billion tons of oil equivalent, which is about 4% more than the U.S., which consumed 2.170 billion tons of oil equivalent. It is also expected that China’s oil demand will likely rise by more than 5% in 2010.

In 2009, China's oil consumption increased by 6.7 percent while US oil consumption declined by 4.9 percent (mostly because of recession).

According to the data from the US Energy Information Administration, approximately 4.1 billion barrels of oil are held in strategic reserves, of which 1.4 billion is government-controlled.

International Energy Agency (IEA) predicts that the global oil demand in 2010 would grow by 170,000 barrels a day to 86.5 million barrels, mostly because of developing countries which depend on oil to continue their economic growth.


Besides United States and China, the list of five largest oil consumers in the world also includes Japan, Russia and India.

Saudi Arabia is currently the world’s second largest crude oil producer behind Russia. It is estimated that Saudi Arabia currently produces around 8.5 million barrels of oil per day.

World crude oil demand grew an average of 1.76% per year from 1994 to 2006.

Transportation sector has the highest oil consumption rates, accounting to 55% of oil use worldwide, and for approximately 68.9% of the oil used in the United States.

Saudi Arabia's largest oil fields are now declining at a rate of around 8% per year. The average global rate of field decline is at about 4.5% per year.

In 2005, global oil production reached an all-time high of 73,720,000 barrels per day.

Oil had the largest price on June 30th, 2008 crossing over $143 a barrel.

Top five countries in oil reserves category are Saudi Arabia, Canada, Iran, Iraq, and United Arabian Emirates.

Why does Russia want more coal?

Coal is fossil fuel that is highly polluting our environment, and worldwide burning of the coal in coal power plants is one of the main reasons why we are currently engaged in fight against climate change. Despite the highly negative environmental impact many countries heavily rely on coal to fuel their economies since in most cases coal presents the cheapest energy option. China, the world's fastest economy has built its economic success on coal.

Though coal can bring economic success on one side it can also bring total environmental failure on the other side, and is really no surprise that many environmentalists have been worried about the latest Russia's plans to substantially increase energy production from coal as this will mean even more carbon emissions in the atmosphere, and with it the bigger climate change impact.

Why would Russia, the well known oil and natural gas giant also turn to coal to increase its energy production? There are several reasons for this. First of all Russia has enormous coal reserves, second only to United States, coal is as already said cheap energy option, and third increased coal use could help Russia to easier fulfill its gas export contracts.

Many energy experts do not see this move to be very wise, not only from environmental point of view but also from economic point of view since Russian coal is of poor quality because of high sulfur and moisture content. United Kingdom for instance displaced Russian coal with Australian and South African coal that both have significantly better quality than Russian coal.


But other energy experts will tell you that even if Russian coal is of poor quality, the Russia can still profit on shale gas (natural gas produced from shale). Shale gas technologies still need to be fully developed but they would enable countries that have enough coal, and not enough natural gas to produce shale gas at coal basins. Since Russia, as already said has abundance of coal of poor quality, extracting shale gas out of the coal basins would really be the case of getting the most out of it, especially as current estimates say that shale gas development should rise by more than 70% in the next 20 years.

Russia is filled with fossil fuel riches, and this is probably the main reason why Russia isn't doing much to use more renewable energy sources to supply its energy demand. The global clean energy race is on, and Russia still looks to be hesitating to join in. Fossil fuel riches are more than capable to provide Russia a relative energy comfort on global market at present times but Russia should also think about its energetic future, not to mention the fact that there will be huge economic benefits for winners in clean energy race.