Last month BP released its Statistical Review of World Energy 2021 . The Review provides a comprehensive picture of supply and demand for major energy sources on a country-level basis. Each year, I do a series of articles covering the Review’s findings. In the previous article , I discussed the trends in global carbon dioxide emissions. Today, I want to cover the production and consumption of petroleum. A Record Decline in Oil Demand For 2020, the Review reported the largest decline in oil* consumption on record. After nine consecutive years of increase, the Covid-19 pandemic caused global consumption of crude oil to decline by more than 9 million barrels per day (BPD) in 2020 to 88.5 million BPD. The United States remains the world’s top oil consumer, averaging 17.2 million BPD in 2020. China was second at 14.2 million BPD, and was the only country in the Top 10 […]