How oil flows in and out of every major region around the world
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Oil and Gas
Every major economy around the world is fueled by oil. But most of them don’t produce the oil they use.
In its new “Statistical Review of World Energy” report, BP included a map tracking oil trade flows around the world.
The Middle East leads the board in crude exports with 850.1 million tonnes shipped out in 2014. It’s followed by Russia (294.8), West Africa (213.9), and Canada (148.6).
In terms of product exports, like gasoline and diesel, the US is No. 1 with 179.9 million tonnes, closely trailed by, again, Russia and the Middle East.
On the flip side, Europe is the biggest importer of both crude (446.9) and product imports (173.5). The US, China, India, Japan, and Australasia are also major consumers of both crude and refined product.
This map also serves as a pretty good tool for seeing who benefitted from the lower oil prices, and who suffered from them.
This article is published in collaboration with Business Insider. Publication does not imply endorsement of views by the World Economic Forum.
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Author: Elena Holodny works at Business Insider.
Image: An employee fills a test tube with mineral oil from the Vankor deposit owned by Rosneft company at a quality control laboratory of the Krasnoyarsknefteproduct oil product company in Krasnoyarsk, Siberia, October 10, 2014. REUTERS/Ilya Naymushin.
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