Oil remains the world's leading fuel, according to a report.
The BP Statistical Review of World Energy 2014 indicates major disruptions to oil production throughout 2013, even with US producers aiming to smooth out the troughs.
Libya's civil unrest has caused a dramatic decline in oil production but BP Chief Economist Christof Rühl stated the US delivered "the world's largest increase in oil production last year. Indeed, the US increase in 2013 – up by 1.1 million barrels a day - was one of the biggest annual oil production increases the world has ever seen.”
In spite of this, global oil production did not keep pace with the growth in global consumption which grew by 1.4 million barrels per day (b/d or 1.4% – just above the historical average - with countries outside the OECD now accounting for the majority (51%).
Emerging economies accounted for 80% of consumption growth in 2013 and it has been historically over the past ten years.
Oil remains the world's primary fuel, providing 32.9% of global energy consumption even though it lost market share for the 14th consecutive year and its current market share is again down to its lowest level since BP's records began in 1965. However, all fuels except oil, nuclear power and renewables in power generation grew at below-average rates for all regions except North America.