1. Petroleum Economics Istvan Csato Department of Geological Sciences
University of South Carolina
January 2002
Source: EIA

2. World Oil Demand Oil Consumption Declines: Oil embargo, 1973
Revolution in Iran, 1979
Economic crisis in Asia and FSU,

3. World Oil Demand Increments in Oil Consumption by Region
Largest increase: Asia

4. World Oil Demand Oil Consumption per Capita by Region Declines:
Industrialized countries:
oil price crises
EE/FSU: collapse of communism
Developing countries: no decline

5. World Oil Demand
Oil Intensity by Region
Continuous decline

6. World Oil Demand Oil Consumption by Sector Main area of growth:
Industrialized countries:
Transportation
Developing countries:
Other uses

7. World Oil Demand Oil Consumption in the Developing World
Expected Increase from 1999 to 2020:
China: 6.1 MBD
South Korea: 1.2 MBD
India: 3.9 MBD
Middle East: 5.3 MBD
Africa: 2.9 MBD
Central and South America: 4.7 MBD

8. World Oil Demand Oil Consumption in the Industrialized World
Expected Increase from 1999 to 2020:
USA: 6.3 MBD
Mexico: 2.2 MBD
Canada: 0.3 MBD
Western Europe: 1.5 MBD
Japan: 0.35 MBD

9. World Oil Demand Oil Consumption in EE/FSU
Expected Increase from 1999 to 2020:
FSU: 4.1 MBD
Eastern Europe: 0.2 MBD

10. World Oil Supply

11. World Oil Supply

12. World Oil Supply

13. World Oil Supply World Oil Production by Region
More than 2/3 of increase in oil demand
will be supplied by OPEC

14. World Oil Supply OPEC Oil Production Projected growth rate:
3.4% per year

15. World Oil Supply
OPEC and Non-OPEC production

16. World Oil Supply
Non-OPEC production by Region, 2020

17. Top World Oil Producers, 2000
World Oil Supply
Top World Oil Producers, 2000
Country
Production Estimates (million bbl/d) 1)
Saudi Arabia
9.12 2)
United States
9.08 (5.83 of which was crude oil) 3)
Russia
6.71 4)
Iran
3.81 5)
Mexico
3.48 6)
Norway
3.32 7)
China
3.25 8)
Venezuela
3.14 9)
United Kingdom
2.75
10)
Canada
2.74
11)
Iraq
2.59
12)
United Arab Emirates
2.51
13)
Kuwait
2.25
14)
Nigeria
2.15
15)
Indonesia
1.56
16)
Brazil
1.54
17)
Libya
1.47
18)
Algeria
1.43
Red: OPEC member
Blue: Non-OPEC member

18. Top World Oil Net Exporters, 2000
World Oil Supply
Top World Oil Net Exporters, 2000
Country
Net Exports (million bbl/d) 1)
Saudi Arabia
7.84 2)
Russia
4.31 3)
Norway
3.11 4)
Venezuela
2.66 5)
Iran
2.59 6)
United Arab Emirates
2.18 7)
Iraq
2.09 8)
Kuwait
2.05 9)
Nigeria
1.86
10)
Mexico
1.44
11)
Libya
1.29
12)
Algeria
1.22
13)
United Kingdom
1.06
Red: OPEC member
Blue: Non-OPEC member

19. World Oil Supply
814 B bbl
Total: 1030 B bbl

20. World Oil Trade