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The propotions of the worlds oil resources held in different areas, together with the consumption annually in different areas

The propotions of the worlds oil resources held in different areas, together with the consumption annually in different areas p1g1y

The following horizontal bar charts on the left shows the proportions of total world oil resources, while the chart on the right pictures the proportions of total world annual oil consumption in 10 various regions, namely the Middle East, Canada, Central and South America, Eastern Europe, Africa, Asia, United States, Australia and New Zealand, and others. The Middle East has the most oil resources, which takes up more than half of the world’s oil resources, while its consumption of oil is low, only 6. 15%. On the contrary, Asia, the United States and Western Europe have low oil supplies, less than 6% in total, but 3 of the regions have relatively high consumption of oil, which makes up more than 70% of world oil consumption in total. Canada has the second highest oil production in the world, which accounts for 14. 84%, while its annual oil utilization is considerably one of the lowest among the 10 regions, constituting only 2. 48% of the total world annual consumption. Falling short on third place is Central and South America, where it contributes to 8. 12% of the world's oil resources, and has an annual consumption of approximately 6. 70%. Both Canada as well as Central and South America have relatively higher oil resources compared to its consumption. Apart from that, the top 3 regions in the chart have acquired nearly four-fifth or 80% of the world’s oil resources. On the other hand, Eastern Europe’s oil resource and annual oil consumption percentage is comparatively even, which makes up 6. 58% and 6. 56% respectively. This proves that the utilisation of oil balances the production in Eastern Europe. Meanwhile in Africa, its oil resource percentage, 6. 38% nearly doubles the percentage of its annual oil consumption of 3. 35%. The region that has the least oil resources and consumption is Australia and New Zealand, which only accounts for 0. 3%, less than 1% of the world’s oil resource and only consumes 1. 31% of the world’s oil per year. The other region that was not mentioned accumulated 1. 05% of the world’s oil resources and utilises 2. 52% of the annual world oil. In short, only 4/10 regions in the chart have higher oil resources in comparison to its oil consumption, while only Eastern Europe has a balance of both.

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