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Oil consumption broke all records in 2012

The world's total oil consumption beat all records last year, and China is close to surpassing the United States to become the largest oil importer in the world.

Photo: Øyvind Hagen/Statoil

The world's industries and consumers have never before used as much energy as they did last year, according to a new analysis from independent analysts U.S. Energy Information Administration.

"Global consumption of gasoline, diesel, airplane fuel, heating oil, and other oil products reached a record-high of 88.9 billion barrels of oil equivalent per day in 2012, and a decreasing consumption in North America and Europe was more than compensated for by growth in Asia and other parts of the world," says U.S. Energy Information Administration in a note to the analysis.

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