Trade & Commerce

Pricing
The price of petroleum means the spot price of either WTI/Light Crude as traded on the New York Mercantile Exchange (NYMEX) for delivery in Cushing, Oklahoma, or of Brent as traded on the Intercontinental Exchange (ICE, into which the International Petroleum Exchange has been incorporated) for delivery at Sullom Voe. The price of a barrel of oil is highly dependent on both its grade, determined by factors such as its specific gravity or API and its sulphur content, and its location

Consumption statistics
Global fossil carbon emissions, an indicator of consumption, for 1800-2000. Total is black. Oil is in blue.2004 U.S. government predictions for oil
production other than in OPEC and the former Soviet Union

International market

Oil consumption per capita in 2006
US
China
Japan
Russia
Germany
India
Canada
Brazil
South Korea
Soudi Arabia
Mexico
France
UK
Italy
Iran.

Top petroleum-exporting countries
Saudi Arabia
Russia     
Norway 
Iran
United Arab Emirates
Venezuela
Kuwait
Nigeria
Algeria
Mexico
Libya
Iraq
Angola
Kazakhstan    
Canada
 
Oil exports by country
In order of amount exported in 2003:
Saudi Arabia (OPEC)
Russia
Norway 1
Iran (OPEC)
United Arab Emirates (OPEC)
Venezuela (OPEC) 1
Kuwait (OPEC)
Nigeria (OPEC)
Mexico 1
Algeria (OPEC)
Libya (OPEC) 1 
Note that the USA consumes almost all of its own production, while the
UK has recently become a net-importer rather than net-exporter.
Total world production/consumption (as of 2005) is approximately 84 million barrels per day.
 
Top petroleum-consuming countries
Consuming Nation (bbl/day) (m³/day)
1 United States 20,030,000 3,184,516
2 China 6,391,000 1,016,088
3 Japan 5,578,000 886,831
4 Russia 2,800,000 445,164
5 Germany 2,677,000 425,609
6 India 2,320,000 368,851
7 Canada 2,300,000 365,671
8 South Korea 2,061,000 327,673
9 France 2,060,000 327,514
10 Italy 1,874,000 297,942
11 Saudi Arabia 1,775,000 282,202
12 Mexico 1,752,000 278,546
13 United Kingdom 1,722,000 273,776
14 Brazil 1,610,000 255,970
 
Top petroleum-importing countries
Oil imports by country# Importing Nation (bbl/day) (m³/day)
1 United States 13,150,000 2,790,683
2 Japan 5,449,000 866,322
3 China 3,226,000 512,893
4 Netherlands 2,284,000 363,127
5 France 2,281,000 362,650
6 South Korea 2,263,000 359,788
7 Italy 2,158,000 343,095
8 Germany 2,135,000 339,438
9 India 2,090,000 332,283
10 Spain 1,582,000 251,518
11 United Kingdom 1,084,000 172,342
12 Belgium 1,042,000 165,665
13 Canada 963,000 153,105
14 Turkey 616,500 98,016 
 
Top petroleum non-producing and consuming countries
Consuming Nation (bbl/day) (m³/day)
1 Japan 5,578,000 886,831
2 Germany 2,677,000 425,609
3 India 2,320,000 368,851
4 South Korea 2,061,000 327,673
5 France 2,060,000 327,514
6 Italy 1,874,000 297,942
7 Spain 1,537,000 244,363
8 Netherlands 946,700 150,513
 
Petrodollar
A petrodollar is a U.S. dollar earned by a country through the sale of petroleum. The term was coined by Ibrahim Oweiss, a professor of economics at Georgetown University, in 1973. Oweiss felt there was a need for a word to describe a situation then occurring in OPEC countries in which an imbalance of trade largely utilizing a single currency was largely offset by that currency's role as a reserve currency. Given the general tendency for crude oil prices to rise and become more volatile in recent years, it may even be argued that crude oil trading may, in the long term, be a significant liability for the stability of the currency in which the trade is conducted.

Gross domestic product per barrel
Energy efficiency as it relates to oil usage can be described by the gross domestic product per barrel (GDP per barrel) (GDP/barrel) of oil used. The original data for this is taken from two sources, the CIA World Fact Book and the List of countries by GDP (nominal) article from wikipedia. It should be noted that many of the numbers from the CIA are mere guesses (see notes) and that many do not reflect the use of oil consumed in the process of making refined products.

Oil price increases of 2004-2006