oil

oil consumption

• richer countires consume oil at a quicker rate
• africa consumes the least amount of oil
• asia-pacific have the largest rise in oil consumption due to high population growth rate increasing the demand for oil as energy
• richer countires consume more oil at a quicker rate as more of their economy is in the secondary/twrtiary sector, which uses oil for machinery for manuafacturing and also uses more for transport and domestic power

proven oil reserves

• quantities of oil that geological and engineering informaiton indicates, with resonable accuracy, can be recovered in the future from known reserviors under existing economic and operating conditions
• the middle east acconted for 61.5% of worlds oil reserves, the…