What industries use a lot of oil?
The following chart breaks down US oil consumption into four main categories: commercial, residential, transportation, and industrial, which includes the agricultural, manufacturing, construction, and mining industries. The US consumed an average of about 20.64 million barrels of petroleum per day.
Which sectors benefit from low oil prices?
Nevertheless, it is anticipated that industries like paints, petrochemicals, textiles, aviation, tyres, and cement will benefit from the decline in crude oil prices.
Where does the US get its oil?
In 2021, the top five countries from which the US imported petroleum were Canada, Mexico, Russia, Saudi Arabia, and Colombia.
What countries produce most oil?
Many countries produce crude oil
- According to their%age contributions to global crude oil production in 2021, the top five producers of crude oil were:
- American 14.5%
- 13.1% in Russia
- 12.1% came from Saudi Arabia.
- 5.8% in Canada
- 5.3% in Iraq
In recent history, the top three producers have been the United States, Russia, and Saudi Arabia.
List of countries by oil production.
| Country | Oil production 2021 (bbl/day) | Oil production per capita 2017 (bbl/day/million people) |
|---|---|---|
| Russia | 10,111,830 | 73,292 |
| Saudi Arabia (OPEC) | 9,313,145 | 324,866 |
| Canada | 4,459,455 | 100,931 |
| Iraq (OPEC) | 4,084,822 | 119,664 |