The bar chart compares the percentage of the world’s oil resources in different regions with the percentage of annual oil consumption in these areas.
Overall, the Middle East has by far the largest share of oil resources, while Asia, the United States and Western Europe consume much more oil than they own. In contrast, the Middle East and Canada have a high proportion of oil resources but use relatively little.
The Middle East has 56.52% of the world’s oil resources, but it consumes only 6.15% each year. Canada also has a large amount of oil resources (14.84%) compared with its consumption of 2.48%. In Central and South America, the figures are 8.12% for resources and 6.70% for consumption. Eastern Europe shows almost the same percentages for both categories, at around 6.5%.
On the other hand, Asia uses the largest amount of oil, at 26.21%, although it has only 2.89% of the world’s oil resources. The United States has a similar pattern, consuming 25.48% while owning just 1.85% of oil resources. Western Europe also consumes much more oil (19.24%) than its share of resources (1.47%). Australia and New Zealand, Africa and the other regions account for relatively small percentages in both categories.
