The US led the world once again in oil production and consumption in 2019, according to data compiled by Anadolu Agency from British energy giant BP's Statistical Review of World Energy 2020 report.
Oil production in the US increased by 11% to reach 17.04 million barrels per day (bpd) in 2019, from the previous year's level of 15.36 million bpd, the report released on Wednesday showed.
Rich with shale oil resources, it was the sixth consecutive year the US led the world in oil production. Last year, the US produced around 17.9% of the world's oil.
Global oil production declined slightly by 0.1% from 95.25 million bpd in 2018 to 95.19 million bpd last year, according to the data.
In oil production, Saudi Arabia followed the US, which saw a 3.5% year-over-year decrease in output that fell to 11.83 million bpd in 2019, from 12.26 million bpd in 2018.
Russia was rated third in oil production last year, with an output of 11.54 million bpd from approximately 11.44 million bpd the year before, marking a 0.9% increase.
Last year, Saudi Arabia's share of global oil production was 12.4%, while Russia's stood at 12.1%, according to the report.
- US consumes almost 20% of the world’s oil
The report showed the US also led the world in oil consumption once again last year. The country has been the top oil consumer in the world since 1965.
Last year, the US consumed a whopping 19.7% of global oil. It consumed 19.4 million bpd of oil in 2019, while global oil consumption averaged 98.27 million bpd last year -- a 0.9% increase from 97.34 million bpd in 2018.
China, in second place, saw its oil consumption last year rise to 14.05 million bpd from 13.37 million bpd in 2018, marking a 5.1% jump.
India ranked third in oil consumption, which increased 3.1% year-over-year, consuming 5.27 million bpd of oil in 2019, compared to 5.11 million bpd in 2018.
While China's share in global oil consumption stood at 14.3% in 2019, India's share registered at 5.4%, the report showed.
By Ovunc Kutlu