The provided bar graph illustrates the percentages of oil rescorces around the world and the proportions of annual usage of oil in those areas. Overall, the Middle East was dominant in terms of oil resource proportions, while Australia and New Zealand have the least amount of oil, showcasing a shortage in oil. Meanwhile, Asia is the continent that consumes the most amount of oil.
To begin with, the Middle East had the highest percentage of oil resources in the world, ranking first with 56.52%. Furthermore, Asia outnumbers the other continents, making it the global leader in oil consumption with approximately 26%, but in contrast, it had been one of the lowest percentages regarding oil resources (2.89%). In addition, the United States follows Asia with a 25.48% share of global oil consumption, and similarly to Asia, it holds only 1.85% of the world’s oil resources.
Moreover, Australia and New Zealand had the lowest percentages, having maintained a low share in both oil resources and oil usage. Western Europe and Central and South America use 19.24% and 6.70% annually and have 1.47% and 8.12% oil, respectively. Additionally, the percentages of both oil utilization (6.56%) and petroleum resources (6.58%) were equally divided in Eastern Europe